Wednesday07 December 2022

Barnes & Noble CEO resigns

Reading time is around minutes.

Just two weeks after announcement of disappointing financial reports that showed that Barnes&Noble loses race with Amazon in e-book reader segment, William Lynch Jr., general manager of the company has resigned.

This is just one in a series of changes that the board decided to do to stabilize the business.  On Monday, they immediately announced that top spot in the company will take Michael P. Huseby, former director of finance. However, he will not perform the functions of the Director General of the whole company as Lynch did, but will be appointed director of the Nook project and CEO of Barnes & Noble.

This move is in line with the speculation that Barnes&Noble will do the reorganization and separate their retail and digital publishing business. Weak performance in the digital sector was the trigger that prompted speculation about selling the Nook division to Microsoft, as well as the possibility that the publisher n the near future could put all of their 675 bookstores on sale.

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Last modified on Tuesday, 09 July 2013 21:42

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