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Monday, Apr 30
2012, 4:03 PM
More on Groupon's (GRPN -10.6%) board shakeup: Schultz and Efrusy will be replaced by...
More on Groupon's (GRPN -10.6%) board shakeup: Schultz and Efrusy will be replaced by "accounting types," a source claims. The move comes 6 days after Bloomberg reported Groupon wants to hire at least 2 new directors to restore investor confidence following its Q4 restatement, while suggesting the board would be expanded to make room. That's apparently not the case, and the Street isn't happy. Update: The new board members are AmEx CFO Daniel Henry and Deloitte vice chairman Robert Bass. GRPN +2.2% AH.