Groupon Inc. /zigman2/quotes/207356672/composite GRPN -6.24% announced Wednesday that it has named Zappos veteran Kedar Deshpande to be the company's next chief executive. Deshpande spent the past decade at Zappos in a variety of roles, including as CEO. He will take over the Groupon CEO post on Dec. 10, succeeding Aaron Cooper, who has been the company's interim CEO. "Kedar has a strong track record of driving growth and operational excellence, and brings significant e-commerce leadership experience to Groupon," Groupon chairman Ted Leonsis said in a release. The company was looking for "a leader who could help accelerate Groupon's progress to become the go-to destination for local," he noted. Groupon shares are up 4.2% in Wednesday morning trading. They've fallen 9.2% over the past three months as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.31% has risen 2.1%.