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Mann runs Slyce’s 14-person consumer shop in Center City. The rest of the team is in Toronto, but he says he plans to grow operations here. He’ll look to boost Slyce’s stock price, which has been tanking since the start of 2015.

On Jan. 29, 2015, CEO Ted Mann announced that his couponing app, SnipSnap, had been snapped up by Toronto-based public company Slyce for $6.5 million. Mann, who had funded the company with local investors and grown it to more than 4 million users, said he’d keep the company at its Center City headquarters.

“This is a great outcome for us,” Mann told us back in January 2015.

Is this an even better outcome? Late on April 4, 2016, Slyce announced that Mann would run the entire company.

He’ll be Slyce’s president, replacing president and CEO Mark Elfenbein.

“Although a difficult decision, it is the right time for me to step back and let the team take the vision that we have now, execute on it, and make the Company stronger,” Elfenbein said in a statement.

Dale Johnson, Slyce’s board chairman, said the board had “a very high level of confidence in [Mann’s] proven skill set, passion and leadership.”

Read the full article here.