The hiring of Jiri Ponrt as chief financial officer was announced on Thursday by Groupon Inc. (GRPN). This comes as the majority stakeholder of the local-deals e-commerce website continues to reorganize the company’s leadership team.
Pale Fire Capital, a private-equity investment vehicle, owns 22% of the Chicago-based startup Groupon, and Mr. Ponrt has joined them.
After Kedar Deshpande, who had joined the firm in late 2021 as part of an earlier restructure of the C-suite, resigned last month, Pale Fire chairman and CEO Dusan Senkypl made the decision to appoint himself as interim CEO of Groupon.
Mr. Ponrt has been named Groupon’s new Chief Financial Officer, succeeding Damien Schmitz who has held the position since November 2021 in an interim capacity.
Mr. Ponrt was CFO of the Czech Republic-based online store Alza.cz before joining Pale Fire. Alza.cz serves customers in Central and Eastern Europe.
A major part of Ponrt’s role, according to Groupon, will be to improve the company’s internal operations, accounting practices, and financial reporting.
Groupon has proven its capacity to control operating costs and move steadily 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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