New Groupon CEO: Old CEO's album reminds him of Kermit

Andrew Mason, Muppet?

After being ousted as CEO of Groupon in March, Mason began a new career as a musician, releasing an album of inspiration business-related songs in July.

Newly appointed CEO and co-founder of Groupon, Eric Lefkofsky, listened to Mason's new songs for the first time ever on "Squawk on the Street" and likened one of them to a song by a famous muppet.

Andrew Mason, former CEO of Groupon Inc.
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Andrew Mason, former CEO of Groupon Inc.

"Honestly, I hadn't heard it until now. My first reaction: I was in a school play and I sung this Kermit the Frog song—something about a rainbow—rainbow connection, I think in sixth grade or something. That was my first reaction.

"Andrew is a supertalented guy, and he handled himself in the face of amazing stress and tension with nothing but composure. I have nothing but respect for him.

"I'm sure if he wants to go into the music business or start another company he'll be successful," he said.

— By CNBC's Paul Toscano. Follow him on Twitter and get the latest stories from "Squawk on the Street" @ToscanoPaul