Tim O’Shaughnessy to Depart as CEO of LivingSocial

Tim O'Shaughnessy, the co-founder and CEO of daily deals giant LivingSocial, plans to depart the company later this year, he informed employees Friday morning. "We will start a search for a new CEO today and hope to fill the position in the first half of 2014 with a new CEO who can lead the company on the next stage of its adventure," O'Shaughnessy wrote in a letter. He will remain CEO until a new leader is installed.