Most of you are well aware that Groupon ousted its CEO Andrew Mason a couple of days ago.

Surprisingly, the storm after the move is unexpected due to the dignity that Mason has displayed as he bid adieu.

It may be the cry of a disappointed man who had ideas but not a good conversion record on paper. And what matters to most in this hard business world is hardcore figures, data, profits and stockpiles as standby for progress of a corporation.

However, Andrew Mason's resignation letter speaks a lot for what a leader is all about.

Here's the text for all of us to read on :

People of Groupon,

After four and a half intense and wonderful years as CEO of Groupon, I've decided that I'd like to spend more time with my family. Just kidding - I was fired today. If you're wondering why... you haven't been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price that's hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. 

As CEO, I am accountable.

You are doing amazing things at Groupon, and you deserve the outside world to give you a second chance. I'm getting in the way of that. A fresh CEO earns you that chance. The board is aligned behind the strategy we've shared over the last few months, and I've never seen you working together more effectively as a global company - it's time to give Groupon a relief valve from the public noise.

For those who are concerned about me, please don't be - I love Groupon, and I'm terribly proud of what we've created. I'm OK with having failed at this part of the journey. If Groupon was Battletoads, it would be like I made it all the way to the Terra Tubes without dying on my first ever play through. I am so lucky to have had the opportunity to take the company this far with all of you. 

I'll now take some time to decompress (FYI I'm looking for a good fat camp to lose my Groupon 40, if anyone has a suggestion), and then maybe I'll figure out how to channel this experience into something productive.

If there's one piece of wisdom that this simple pilgrim would like to impart upon you: have the courage to start with the customer. My biggest regrets are the moments that I let a lack of data override my intuition on what's best for our customers. This leadership change gives you some breathing room to break bad habits and deliver sustainable customer happiness - don't waste the opportunity!

I will miss you terribly.

Love,

Andrew

"Inspiring. Graceful. Responsible."

These are practically the three words that strike me now as the read and re-read his last address to the  company. Its wonderful how in a narrow world where business is more about platonic friendships, Mason stands out differently.

The letter is a simple and honest confession that most bosses wouldn't make- "Oh, I indeed messed up". Remarkably he shares his regret and incapability to do more for his corporation. Now that's lesson number one: Commitment. But lets just cut some slack here; the CEOs are as much humans as you and me on the street. All of us come with aspirations to make things better not worse.

The ouster may not be much of a surprise for many in the business community. The stocks were falling, management issues lurked, the company had lost its appeal with dwindling growth stats. Added to this Mason was mockingly named as the "Worst CEO of the Year" in 2012 by Herb Greenburg of CNBC. That's DISASTER- lock, stock and barrel for any multinational company. It has happened in the past and will continue to happen as someone is made the scapegoat in the process as the ship goes down.

But the situation and the reaction that has emerged in Groupon's case is indeed a learning session for other business leaders.

Business etiquettes aside, Mason has really created a new legacy here. Being accountable and responsible for any mishap under their wing is what makes someone truly the leader of the pack. And by taking a dignified exit, despite the word "DISMISSED" hanging around his neck as an albatross, Mason sets the example of making way for a better leader to step into his boots and augment the crisis. Mind you that takes a lot of guts and honor to do.

While the industry may forget his move in time as the flares subside, a new CEO gets appointed and the company gets out of limelight but Mason's Act of Honor will always be noteworthy.

We salute this Mason-ic exit.

Do let us know your thoughts on Mason and Groupon by leaving a comment below.

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