Reuters: Global Markets: Groupon replaces Schultz, Efrusy on board

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Groupon replaces Schultz, Efrusy on board Apr 30th 2012, 20:28 Tweet Share this Email Print Related News Starbucks profit up, but Europe is a challenge Thu, Apr 26 2012 Lingering customers just one hurdle for Starbucks China growth Wed, Apr 18 2012 Analysis: Groupon accounting problems put spotlight on board Thu, Apr 12 2012 Starbucks' job creation fund finds first partners Tue, Apr 3 2012 Analysis: U.S. CEOs' take-home pay climbs on stock awards Mon, Apr 2 2012 Analysis & Opinion Goldman board muppet of the day, James Johnson edition Essential reading: RBC accused of tax scheme, Groupon hiring more auditors Related Topics Hot Stocks » Asian Markets » People enter and leave Groupon Inc corporate office and headquarters in Chicago, Illinois, November 4, 2011. Credit: Reuters/Frank Polich Mon Apr 30, 2012 4:28pm EDT (Reuters) - Groupon Inc (GRPN.O) has appointed two directors to replace Starbucks (SBUX.O) CEO Howard Schultz and venture capitalist Kevin Efrusy on its board, in an apparent attempt to address growing criticism over its accounting practices. The fast-growing daily deals company and CEO Andrew Mason came under fire after the company revised its fourth-quarter results and admitted to a "material weakness" in its financial statements in March -- months after a high-profile IPO. [ID:nL2E8FA2MV] On Monday, Groupon said Robert Bass, a Deloitte LLP vice chairman, and Daniel Henry, chief financial officer of the American Express Co (AXP.N), will join its board. Both will serve on the audit committee. Henry joined last Friday but Bass needs to be elected at the June shareholders' meeting. Shares of Groupon fell more than 10 percent just minutes before the closing bell. It finished down 10.6 percent at $10.71 on the Nasdaq. (Reporting By Edwin Chan; Editing by Bernard Orr) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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