On Thursday, Groupon Inc. (GRPN) announced that it had hired Jiri Ponrt as its chief financial officer. This comes as the company’s largest shareholder continues to restructure the executive team for the local-deals e commerce website.
Mr. Ponrt comes to Groupon from Pale Fire Capital, a private-equity investment fund that controls a 22% stake in the Chicago company.
The decision was made after Dusan Senkypl, the chairman and CEO of Pale Fire, took over as interim CEO of Groupon last month following the resignation of Kedar Deshpande, who had joined the company in late 2021 following an earlier reorganization of the C-suite.
Groupon has announced that Mr. Ponrt will take over as Chief Financial Officer from Damien Schmitz, who was promoted to that role in November of last year after having served in an interim capacity since November 2021.
Before coming to work for Pale Fire, Mr. Ponrt held the position of chief financial officer for the online retailer Alza.cz, which has operations in central and eastern Europe.
Groupon has stated that one of Ponrt’s primary responsibilities will be to substantially enhance the company’s internal processes, controls, and financial reporting.
Groupon demonstrates that it can manage operating expenses to march toward long-term profitability.
Senkypl is the director and chief executive officer of Pale Fire Capital, which he co-founded in 2015. In light of his promotion, Senkypl has decided to leave Pale Fire Capital’s day-to-day operations.
Nearly 22% of Groupon (GRPN) shares are owned by Pale Fire Capital, making it the company’s biggest shareholder.
Etsy is currently trading at $103; Amazon (AMZN) is trending around $103, Target (TGT) is trending around $160. Groupon is trading currently at $4. Groupon can easily bounce back by the end of 2023 which makes it a better investment and buy opportunity for the savvy investor.
Authors of this Newsletter own shares: of Groupon and Apple
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