Reuters: Technology News: Groupon names Raman chief operating officer

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Groupon names Raman chief operating officer Nov 15th 2012, 02:25 Tweet Share this Email Print Related News Groupon results disappoint again, stock hits record low Thu, Nov 8 2012 Analysis & Opinion How I lost my Groupon bet People enter and leave Groupon Inc corporate office and headquarters in Chicago, Illinois, November 4, 2011. Credit: Reuters/Frank Polich By Alistair Barr SAN FRANCISCO | Wed Nov 14, 2012 9:25pm EST SAN FRANCISCO (Reuters) - Groupon Inc said on Wednesday that it promoted Kal Raman to chief operating officer, giving the executive more power as the world's largest daily deal company tries to turn around its struggling international businesses. Raman joined the company in April and was previously Senior Vice President, Global Sales and Operations. As COO, he will continue to report to Chief Executive Andrew Mason and oversee the company's global sales and operations, Groupon said. Groupon lost two COOs when the company was growing at a ferocious pace leading up to its initial public offering late last year. Since then, growth has slowed to the point where many on Wall Street and beyond question the company's business model. Groupon shares have lost more than three quarters of their value since the IPO. The stock hit record lows in recent days after the company reported disappointing third-quarter results as it struggled to turn around its European business. Raman has been leading the re-organization efforts in Europe. "We are already seeing progress in Europe and Kal will be instrumental in leading our company as we deploy tools and technologies that will help us continue to grow," Mason said. Groupon shares gained 3.8 percent to $2.73 on Wednesday. (Reporting By Alistair Barr; Editing by Gary Hill, Marguerita Choy and Tim Dobbyn) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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