The BreakUp of Barnes & Noble

This post comes from Bloomberg Businessweek:

Barnes & Noble Inc. (BKS:US) moved closer to breaking up the largest U.S. bookstore chain after its chief executive officer resigned and it named a manager with a history of spinning off units to its most senior position.

William Lynch stepped down yesterday, effective immediately, and Barnes & Noble promoted Chief Financial Officer Michael Huseby, 57, to be president of the company and CEO of Nook Media. It isn’t looking for a new CEO and Huseby will report to Leonard Riggio, the chain’s chairman, founder and largest shareholder, the New York-based company said.

Barnes & Noble is considering splitting up its businesses after Riggio said in February that he planned to make an offer for its 680 stores and website. The company also created a digital-media division last year with the possible goal of spinning it off.

To read the complete article, please visit:
http://www.businessweek.com/news/2013-07-08/barnes-and-noble-ceo-lynch-resigns-after-sales-declines-and-losses

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About reginajeffers

Regina Jeffers is the award-winning author of Austenesque, Regency and contemporary novels.
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