Herb Greenberg at CNBC has yet another edition of his “Worst CEO List.” For 2012, he had a tough time choosing a “winner,” but after much deliberation and flip-flopping Greenberg landed on Groupon CEO Andrew Mason. The company’s mistake was keeping the software developer-turned-CEO on board after it went public. Mason’s ineptitude as Groupon’s chief was evident early on, when he sent a letter to potential shareholders saying “we don’t measure ourselves in conventional ways.” The company has struggled mightily since its IPO, and Mason’s silly antics “almost make a mockery of corporate leadership – especially for a company with a market value of more than $3 billion,” Greenberg writes.
Groupon’s board decided to keep Mason on board as the company’s CEO in a meeting held in late November, to the dismay of investors. But the company has problems apart from Mason, too. (CNBC)