Groupon Inc.is interested in expanding its board but has no names to announce, a company spokesman said Tuesday.
Bloomberg News reported Tuesday that the Chicago-based daily deals company is looking to add at least two directors, including a person to head its audit committee.
The current eight-member board includes Chief Executive Andrew Mason, Starbucks CEO Howard Schultz and Mellody Hobson of Chicago-based Ariel Investments. Eric Lefkofsky and Brad Keywell, who backed Groupon in its early days and now run early stage investment firm Lightbank, are also board members. Lefkofsky is Groupon’s executive chairman.
A company spokesman said many companies look to add directors after going public and “Groupon is no exception.” He said it is “semipublic” knowledge that Groupon has been looking for a new board member, although he declined to provide specifics on candidates.
Groupon has had a rocky beginning as a traded company. In late March, the company restated its fourth-quarter and full-year revenues, citing “material weakness” in financial controls. The company said it is seeking to improve internal controls by adding staff and working with a different accounting firm.
Groupon’s stock has dropped about 35 percent since its revenue restatement. On Tuesday, shares closed up 0.9 percent at $11.96.
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