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Groupon board of directors may see big shakeup

Online coupon company Groupon is recruiting at least two new members to its board of directors after it had to revise fourth-quarter results last month, Bloomberg reported on Tuesday, citing two people familiar with the matter.

Groupon in March revised its first results posted as a public company, trimming revenue by USD14.3 million. The company also said it found a material weakness in controls over its financial statements.

Groupon is seeking to hire a director who could eventually become chairman of its audit committee, Bloomberg reported, citing a person familiar with the matter who asked not to be named because the plan is private.

(Source: CNBC)