Published on Tue, 05/01/2012 – 08:53 By FNNO Staff in News corner, axp, GRPN, SBUX, american express, board, groupon, grpn, starbucks 5-1-12-Shares of Groupon (NASDAQ:GRPN) shares sold off in the last hour of trading Monday on news that Starbucks (NASDAQ:SBUX) Chairman and CEO Howard Schultz and Accel Partners’ Kevin Efrusy were stepping down from Groupon’s board.The members will be replaced by Daniel Henry, CFO of American Express (NYSE:AXP), and Deloitte Vice Chairman Robert Bass.The shakeup comes as Groupon looks to shore up investor confidence following its Q4 restatement which was a nightmare for the company’s stock.The departures were voluntary, however, AllThingsD reported that several sources noted that Schultz almost left the board right before Groupon’s public offering last fall, following several ongoing disputes with its management, but opted to stay on so as to not cause any issues with the IPO.Groupon’s stock rose to over $31 on November 4th of 2011, but has come off considerably since it’s IPO and is trading at $10.72 this morning, about flat on the day after falling over 10% yesterday.
