Groupon Appoints Two Board Members

Execs from American Express and Deloitte will help address accounting issues

   

Groupon (NASDAQ:GRPN), the company best known for its online coupon deals and unpredictable executive management team, announced Monday that it has appointed two board members. The board changes come on the heels of some embarrassing accounting blunders made by Groupon execs.

Daniel Henry, chief financial officer of American Express (NYSE:AXP), will take the board seat previously occupied by Starbucks (NASDAQ:SBUX) CEO Howard Schultz. Robert Bass, vice chairman at financial consulting firm Deloitte, replaces investor and entrepreneur Kevin Efusy. Both men will sit on Groupon’s audit committee.

“With their deep financial, accounting and operational experience, Dan and Bob will provide invaluable expertise to the Board going forward,” Eric Lefkofsky, Groupon’s chairman said in a press release.

Henry, 62, has been the CFO of American Express since October 2007. Bass, also 62, will retire from Deloitte in June. He has been a vice chairman of the company since 2006.

In a press statement, Groupon CEO Andrew Mason recognized Schultz and Efrusy for their roles with the company: “Howard and Kevin helped guide us on our journey to becoming a public company and I want to thank them and acknowledge their contributions.”


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/groupon-appoints-two-board-members/.

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