Jason Del Rey

Recent Posts by Jason Del Rey

Barnes & Noble CEO William Lynch Resigns Amid Strategic Review

nook_colorBarnes & Noble announced late Monday that CEO William Lynch had resigned, as the one-time book giant faces mounting challenges as the digitization of books proliferates.

The company did not name a replacement in title, but said that CFO Michael Huseby would become CEO of Nook Media and president of Barnes & Noble. He and Barnes & Noble Retail Group CEO Mitchell Klipper will report to Executive Chairman Leonard Riggio.

“As the bookselling industry continues to undergo significant transformation, we believe that Michael, Mitchell and Max [Roberts] are the right executives to lead us into the future,” Riggio said in a statement.

Barnes & Noble said in the announcement that it was undergoing a “strategic review” of its business.

Two weeks ago, the company said it would stop manufacturing color versions of its Nook e-reader, instead outsourcing the work to a third party. Nook sales dropped 34 percent in the company’s fiscal fourth quarter.

The stock was down about 2 percent in after-hours trading to $17.33.


Latest Video

View all videos »

Search »

There’s a lot of attention and PR around Marissa, but their product lineup just kind of blows.

— Om Malik on Bloomberg TV, talking about Yahoo, the September issue of Vogue Magazine, and our overdependence on Google