Groupon Announces CFO Transition
13 Abril 2023 - 10:03AM
Business Wire
Jiri Ponrt appointed as CFO
Groupon, Inc. (NASDAQ: GRPN), a leading destination for local
services & experiences, today announced the appointment of Jiri
Ponrt as Chief Financial Officer. Mr. Ponrt will succeed Damien
Schmitz in that capacity and will become a member of the company’s
Leadership Team. Mr. Ponrt intends to relocate to Chicago.
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Jiri Ponrt has been appointed to the role
of Groupon's Chief Financial Officer, effective immediately.
(Photo: Business Wire)
Jiri Ponrt is joining Groupon from Pale Fire Capital, prior to
which he served as CFO at Alza.cz one of the largest e-commerce
players in Central and Eastern Europe with an annual turnover of $2
billion. Before this he spent 15 years at Danone/Nutricia, where he
gained extensive experience both in a variety of financial and
commercial roles.
“Jiri is a highly regarded CFO with an impressive track record
of partnering with business leaders to successfully utilize
financial data to inform operational decision making and strategy,”
said Dušan Šenkypl, Interim Chief Executive Officer of Groupon. “A
key part of his role will be to significantly improve internal
processes, controls and financial reporting. Beyond his financial
credentials, Jiri has the necessary leadership and communication
skills to translate detailed information into clear, concise and
accessible messaging, a vital skill as we look to unlock Groupon’s
full potential and super-charge our transformation. I am excited to
welcome Jiri to the management team. I also want to take this
opportunity to thank Damien for over 10 years of service and wish
him all the best in his future endeavours.”
“I am delighted to be joining Dušan and the team as they
continue on their journey to make Groupon the leading destination
for local services & experiences,” said Mr. Ponrt. “Following
our January restructuring announcement and significant reduction of
our fixed cost structure, it is time to accelerate our
transformation from this solid base. Our focus will continue to be
on operational excellence, embedding financial rigor throughout the
business, streamlining and simplifying internal processes and
providing decision support to key functions. It’s a fantastic
opportunity and I look forward to working with the wider team to
successfully execute our growth strategy and deliver the company’s
transformation program.”
About Jiri Ponrt
Jiri Ponrt is joining Groupon from Pale Fire Capital, Groupon’s
largest shareholder that holds approximately 22% of shares
outstanding. Pale Fire is an entrepreneurial investment firm with
~$1 billion in AUM and two established investment strategies in
technology private equity and global macro hedge fund. Its private
equity portfolio includes ~30 B2C and marketplace companies. Prior
to Pare Fire Capital, Jiri served as CFO at Alza.cz, one of the
biggest e-commerce players in CEE with an annual turnover of $2
billion. In conjunction with his appointment as Groupon CFO, Jiri
will be stepping down from day-to-day responsibilities at Pale Fire
Capital.
About Groupon
Groupon (www.groupon.com) (NASDAQ: GRPN) is a trusted local
marketplace where consumers go to buy services and experiences that
make life more interesting and deliver boundless value. To find out
more about Groupon, please visit https://investor.groupon.com/
Forward Looking Statements
The statements contained in this release that refer to plans and
expectations for the next quarter, the full year or the future are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding our future results of operations and financial position,
business strategy and plans and our objectives for future
operations and future liquidity. The words "may," "will," "should,"
"could," "expect," "anticipate," "believe," "estimate," "intend,"
"continue" and other similar expressions are intended to identify
forward-looking statements. We have based these forward looking
statements largely on current expectations and projections about
future events and financial trends that we believe may affect our
financial condition, results of operations, business strategy,
short-term and long-term business operations and objectives, and
financial needs. These forward-looking statements involve risks and
uncertainties that could cause our actual results to differ
materially from those expressed or implied in our forward-looking
statements. Such risks and uncertainties include, but are not
limited to, our ability to execute, and achieve the expected
benefits of our go-forward strategy; execution of our business and
marketing strategies; volatility in our operating results;
challenges arising from our international operations, including
fluctuations in currency exchange rates, legal and regulatory
developments in the jurisdictions in which we operate and
geopolitical instability resulting from the conflict in Ukraine;
global economic uncertainty, including as a result of inflationary
pressures, ongoing impacts from the COVID-19 pandemic and labor and
supply chain challenges; retaining and adding high quality
merchants and third-party business partners; retaining existing
customers and adding new customers; competing successfully in our
industry; providing a strong mobile experience for our customers;
managing refund risks; retaining and attracting members of our
executive and management teams and other qualified employees and
personnel; customer and merchant fraud; payment-related risks; our
reliance on email, internet search engines and mobile application
marketplaces to drive traffic to our marketplace; cybersecurity
breaches; maintaining and improving our information technology
infrastructure; reliance on cloud-based computing platforms;
completing and realizing the anticipated benefits from
acquisitions, dispositions, joint ventures and strategic
investments; lack of control over minority investments; managing
inventory and order fulfillment risks; claims related to product
and service offerings; protecting our intellectual property;
maintaining a strong brand; the impact of future and pending
litigation; compliance with domestic and foreign laws and
regulations, including the CARD Act, GDPR, CPRA, other
privacy-related laws and regulation of the Internet and e-commerce;
classification of our independent contractors, agency workers or
employees; our ability to remediate our material weakness over
internal control over financial reporting; risks relating to
information or content published or made available on our websites
or service offerings we make available; exposure to greater than
anticipated tax liabilities; adoption of tax laws; our ability to
use our tax attributes; impacts if we become subject to the Bank
Secrecy Act or other anti-money laundering or money transmission
laws or regulations; our ability to raise capital if necessary; our
ability to continue as a going concern; risks related to our access
to capital and outstanding indebtedness, including our convertible
senior notes; our common stock, including volatility in our stock
price; our ability to realize the anticipated benefits from the
capped call transactions relating to our convertible senior notes;
difficulties, delays or our inability to successfully complete all
or part of the announced restructuring actions or to realize the
operating efficiencies and other benefits of such restructuring
actions; higher than anticipated restructuring charges or changes
in the timing of such restructuring charges; and those risks and
other factors discussed in Part I, Item 1A. "Risk Factors" of our
Annual Report on Form 10-K for the year ended December 31, 2022,
and our other filings with the Securities and Exchange Commission
(the "SEC"), copies of which may be obtained by visiting the
company's Investor Relations web site at investor.groupon.com or
the SEC's web site at www.sec.gov. Groupon's actual results could
differ materially from those predicted or implied and reported
results should not be considered an indication of future
performance.
You should not rely upon forward-looking statements as
predictions of future events. Although Groupon believes that the
expectations reflected in the forward-looking statements are
reasonable, it cannot guarantee that the future results, levels of
activity, performance or events and circumstances reflected in the
forward-looking statements will be achieved or occur. Moreover,
neither Groupon nor any other person assumes responsibility for the
accuracy and completeness of the forward-looking statements. The
forward-looking statements reflect our expectations as of the date
of this release. We undertake no obligation to update publicly any
forward looking statements for any reason after the date of this
release to conform these statements to actual results or to changes
in our expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20230413005511/en/
Investor Relations Contact: Megan Petrous ir@groupon.com
Media Relations Contact: Emma Coleman Alia Lewis
press@groupon.com
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