Andrew Mason’s role as chief executive officer of Groupon Inc. is on the line as board members meeting today in Chicago discuss whether to seek new leadership at the top of the troubled provider of daily coupons.
Some Groupon Inc. directors plan to discuss a possible leadership change amid concern that Chief Executive Officer Andrew Mason is mishandling the company’s turnaround, a person familiar with the matter said.
Groupon Inc. said Daniel Henry, the finance chief of American Express Co., and Robert Bass, a vice chairman of Deloitte LLP, will become directors, underscoring efforts to shore up investors’ confidence in its accounting.
The U.S. Securities and Exchange Commission asked Groupon Inc. to explain its accounting for coupon refunds and other aspects of its business after the daily deal site revised 2011 results and disclosed a “material weakness” in its financial controls.
American Express Co ., the biggest U.S. credit-card issuer by purchases, agreed to buy Munich-based marketing firm Loyalty Partner GmbH for 496 million euros ($660 million) to add 34 million international consumers.