Groupon Drops 3% Amid Departure Of Product Development Leader

Groupon Inc (NASDAQ: GRPN) fell more than 3 percent Wednesday on news that its head of product development left the company after two months on the job.

Recode.net reported that Parker Barrile left Groupon to handle a personal matter. Barrile reported to CEO Eric Lefkofksy and led global product teams focused on mobile, web and design, according to the report.

According to recode.net author Jason Del Ray, "The executive shuffle comes at an inopportune time for the daily deals pioneer as it tries to train customers to search its site for deals rather than relying on them to open emails at a time when people’s inboxes are increasingly saturated."

Groupon Inc recently traded at $5.82, down 2.8 percent.