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Groupon replaces 2 directors

Mon, 04/30/2012 - 5:39pm
The Associated Press

Online coupon and deals company Groupon Inc. said Monday that it will replace two board members with executives from American Express Co. and accounting firm Deloitte LLP.

The company said Daniel Henry, chief financial officer of American Express and Robert Bass, a vice chairman at Deloitte, will sit on Groupon's audit committee.

Henry was appointed to the board on April 26, and replaces Starbucks CEO Howard Schultz.

Bass will stand for election at the annual shareholders' meeting June 19 after he retires from Deloitte. He replaces entrepreneur and investor Kevin Efrusy.

"With their deep financial, accounting and operational experience, Dan and Bob will provide invaluable expertise to the Board going forward," said Eric Lefkofsky, Groupon Chairman.

Henry, 62, has been CFO of American Express since 2007. Bass, also 62, has been a vice chairman of Deloitte since 2006, and a partner there since 1982. He is retiring from Deloitte on June 2.

Groupon shares fell $1.27, or 10.6 percent, to close at $10.71. In aftermarket trading the stock rose 22 cents, or 2 percent, to $10.93.

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