Barnes and Noble CEO William Lynch has resigned amidst the decreasing profits and declining sales.
“We thank William Lynch for helping transform Barnes & Noble into a leading digital content provider and for leading in the development of our award-winning line of NOOK products including NOOK Simple Touch, NOOK Simple Touch Glowlight, and NOOK HD and NOOK HD+ ,” said Leonard Riggio, Chairman. “As the bookselling industry continues to undergo significant transformation, we believe that Michael, Mitchell and Max are the right executives to lead us into the future.” Mr. Riggio added that the Company is in the process of reviewing its current strategic plan and will provide an update when appropriate.
“I appreciate the opportunity to serve as CEO of this terrific Company over the last three years,” said William Lynch. “There is a great executive team and Board in place at Barnes & Noble, and I look forward to the many innovations the Company will be bringing to its millions of physical and digital media customers in the future.”
Michael P. Huseby has been appointed Chief Executive Officer of NOOK Media LLC and President of Barnes & Noble, Inc. Max J. Roberts, Chief Executive Officer of Barnes & Noble College will continue to lead the digital education strategy and report to Mr. Huseby, as will the Executive Management team of NOOK Media. Mr. Huseby and Mitchell Klipper, Chief Executive Officer of the Barnes & Noble Retail Group, will report directly to Leonard Riggio, Executive Chairman of Barnes & Noble, Inc.