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Groupon names new chief accounting officer

CHICAGO (AP) -- Online deals company Groupon Inc. has named Brian Stevens as its new chief accounting officer.

The move announced Monday follows a slew of accounting troubles for Groupon earlier this year. In March, the company restated its quarterly financial results, explaining that it lost more than it initially reported because it had to pay out more refunds than expected. In May, it replaced two of its board members to add executives with more accounting experience.

Stevens will report to Jason Child, Groupon's chief financial officer. Stevens hails from accounting firm KPMG, where he spent 16 years, most recently as an audit partner.

Stevens is replacing Joe Del Preto, who will keep his position as vice president and global controller, reporting to Stevens.

Groupon's stock closed unchanged at $4.27 on Monday. Groupon shares fell to a low of $4 last week. They traded as high as $31.14 last November.