Three executives, nine others out at LivingSocial
District-based LivingSocial removed three executives last week as the fast-growing company restructures some of its business units and looks to bolster revenue streams beyond its lucrative daily deals.
Nine others were also asked to leave as part of the staffing changes, although spokesman Brendan Lewis declined to provide details beyond the fact they are not senior executives.
The departures include Dickson Chu, a former PayPal executive, who joined the firm toward the end of last year to head its newly created Merchant Solutions Group, which will provide services such as digital marketing and customer loyalty to shopkeepers.
Chief executive Tim O’Shaughnessy will temporarily oversee the fledgling division, Lewis said, adding that O’Shaughnessy has taken a similar approach in the past when a business unit is young and critical to the firm’s future.
O’Shaughnessy is the son-in-law of Washington Post Co. Chairman Donald E. Graham.
Vice President of Business Development Holly Tennant and Vice President of Corporate Marketing Camille Watson were also dismissed. Lewis said those divisions will be decentralized and folded into other parts of the company.