MutualFundWire.com: Groupon Recruits a Mutual Fund Executive to its Board

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Monday, June 27, 2011

Groupon Recruits a Mutual Fund Executive to its Board

Ariel Investments [see profile] president Mellody Hobson has joined the board of online coupon company Groupon. Her appointment to the board comes weeks after Groupon filed for an IPO.

Mellody Hobson
Ariel Investments
President

Hobson told Crain's Chicago Business that Groupon chairman Eric Lefkofsky asked her earlier this year to become part of the board.

"They’re a phenomenal company … a real game-changer," Hobson was quoted in the article as saying. "I'm especially excited because they’re in our own back yard."

Like Ariel, Groupon is based in Chicago.

Hobson serves on the board of three publicly-traded firms: DreamWorks Animation SKG, Inc., The Estée Lauder Companies Inc. and Starbucks Corporation. She also sits on the boards of civic organizations such as The Field Museum, the Chicago Public Education and the Sundance Institute.

She is also a regular financial contributor on Good Morning America and writes a regular column for Black Enterprise.

Other media outlets that covered her Groupon board gig include include Dow Jones VentureWire and The Associated Press.

Company Press Release from June 22:

Mellody Hobson Named to Groupon Board of Directors

CHICAGO--Today Groupon (http://www.groupon.com) announced the election of Mellody Hobson to the company’s Board of Directors. Mellody is president of Ariel Investments, a Chicago-based money management firm serving institutional clients and individual investors; she also serves as chairman of the board of trustees for Ariel's no-load mutual funds.

Beyond her work at Ariel, Mellody has become a nationally recognized voice on financial literacy and investor education. Specifically, she is a regular financial contributor on Good Morning America, the featured consumer finance expert on Tom Joyner’s Money Mondays radio program and a regular columnist for Black Enterprise. Mellody is a director of three public companies: DreamWorks Animation SKG, Inc., The Estée Lauder Companies Inc. and Starbucks Corporation. In addition, she serves on the boards of various civic organizations including The Field Museum, The Chicago Public Education Fund and the Sundance Institute.

"Mellody is an advocate for savvy consumer spending and educated business decisions," said Andrew Mason, CEO. "We expect her insights to be invaluable as we continue to serve merchants and customers worldwide."

Mellody is a graduate of Princeton University where she received her AB degree from the Woodrow Wilson School of International Relations and Public Policy.

About Groupon

Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in 43 countries around the world. Groupon uses collective buying power to offer huge discounts and provide a win-win for business and consumers, delivering more than 1,000 daily deals globally. To subscribe for the best deals in your city, visit http://www.groupon.com. To learn how to become a featured business, visit http://www.grouponworks.com.