5. March 2013 11:00
Very rarely in the corporate world does one get an honest reason for a CEO’s departure, however Andrew Mason ex CEO Groupon managed it with his resignation letter.
He is candid about the reasons why he should go “two quarters of missing our own expectations and a stock price that's hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable”.
He also managed to include in his resignation letter a reference to a video game, Battletoads, which starred three anthropomorphic toads, Rash, Zitz and Pimple. This put a smile on my face but then I am not an investor in Groupon and perhaps this kind of levity may not have gone down too well in their eyes.
Finally in the last paragraph he pinpoints the cause of his problems, “My biggest regrets are the moments that I let a lack of data override my intuition on what's best for our customers”.
So all CEO’s take care, ensure you have enough, relevant data, not just big data because it is fashionable and use regular data cleansing to maintain the integrity of the data.