Leadership Kudos and Gaffes: Groupon goes from innovative start-up to successful IPO
Leadership Kudos for the week go to Andrew Mason, CEO of Groupon, for leading his creative web-based company to a successful initial public offering whose value results from a unique marketing and promotional idea. After much controversy over the summer months, Groupon’s IPO came to market during a turbulent period for stocks. Priced at $20.00 per share, Groupon rose almost immediately by 31% to $26 per share. After five trading days, it sustained most but not all of its increased value, closing last week at $24.25, a 21% increase above its initial offering. Throughout this period Mason has been steady and committed to moving his young company ahead.
Leadership Gaffes go to Silvio Berlusconi, the now deposed leader of Italy, who finally stepped down officially as prime minister over this past weekend. Berlusconi’s flagrant mismanagement of Italy’s finances has brought the country to the brink of bankruptcy. He served three times as prime minister, dating back to 1994, yet today is one of the world’s richest people with nearly $8 in net worth. Berlusconi’s ethics are highly questionable, as he continues to favor his own enterprises to the detriment of his country. His successor, Mario Monti, is a man of the highest integrity, economic understanding, and the character to lead Italy through the current crisis.