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 »

I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik