Investing.com -- Groupon announced a number of key changes to its executive structure on Friday in an effort to accelerate the company's growth outlook for fiscal year 2016.
As part of the changes, Groupon named Jay Sullivan as its chief product officer, where the former Mozilla executive will be responsible for customer and merchant-facing assets. Sullivan joined Group in March after spending eight years at Mozilla, the operators of the Firefox web browser. At Mozilla, Suillivan served in a number of roles including a brief stint as interim CEO.
In addition, the company announced that it has appointed Aaron Cooper as the head of its North American Services operation, which consists of its multi-billion dollar local business and travel business segments. Cooper previously served as the company's chief marketing officer. Groupon CEO Rich Williams also said on Friday that Jacob Hawkins will succeed Cooper as the head of North American Goods, joining the company from Aeropostale.
"We are incredibly excited to bring this level of talent to bear on the challenge of building the leading marketplace where people discover and save on amazing things to eat, see, do and buy in their neighborhood," Williams said. "Aaron, Jacob and Jay are all high-horsepower leaders who have embraced the opportunity Groupon has to win in local and become a daily habit for millions of customers and small business owners."
The changes are aimed at jumpstarting Groupon's growth potential after the global leader of local commerce has seen its market capitalization slump by more than 60% over the last 12 months.
Shares in Groupon inched down 0.04 or 1.31% to 3.02 in after-hours trading.