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Twenty-one months after removing both its CEO and COO, Groupon has finally named a permanent replacement to lead its recovery.

Kedar Deshpande will step into the top role on December 10, taking over the reins from Aaron Cooper, who has served as the online deal marketplace's interim CEO since March 2020.

Deshpande is a veteran of Zappos, where he joined as a Portfolio Manager in 2011 and worked his way up to his most recent role as the company's CEO. He also held technical positions at Pepsi and General Electric.

Cooper commented on the news stating, "Exciting news for Groupon! Congratulations Kedar Deshpande - thrilled for Groupon and this next, new chapter."

According to Groupon's Board Chairman Ted Leonsis, Groupon was attracted to Deshpande's decade-plus of e-commerce leadership experience as well as his track record of growth and operational excellence.

Deshpande's goal will be to continue Groupon's recovery from the COVID-19 pandemic, which has depressed the company's revenue. Currently, Groupon is recovering from the impact of the Delta variant, but soon it will have to grapple with the potential effects of the Omicron variant that is gaining traction globally.

"The company has spent the last 18 months building a strong foundation for growth," Deshpande stated, "and I am excited to work alongside the Groupon team and the Board to drive progress and create value for all of our stakeholders."