Contact Us

Barnes & Noble CEO William Lynch Resigns; CFO Michael Huseby Takes His Place

Justin Sullivan, Getty Images

Book giant Barnes and Noble’s Chief Executive Officer, William Lynch, is resigning and being replaced by Chief Financial Officer Michael Huseby.  Huseby will serve as president and CEO of Nook Media.

Shares of the company, traded as BKS, fell on the news.

Analysts are expecting that the company will soon be broken up after its fourth quarter losses were double what was anticipated by market watchers.

Revenue from B&N’s Nook e-reader fell by thirty-four percent.  For the year the company’s digital sales increased just more than sixteen percent .  However, they decreased in the fourth quarter of FY2013 in part because of comparison to figures from 2012 which were catapulted by sales of “The Hunger Games” and “Fifty Shades of Grey.”

Through a statement in a press release detailing its 2013 financial results the company reassures Nook readers against the device’s demise by stating:

The company will continue to offer its existing inventory of its high quality NOOK® HD and NOOK® HD+ devices at amazing prices through the holiday.  As always, Barnes & Noble will provide world-class pre- and post-sales support in its stores for its NOOK HD and NOOK HD+ customers, as well as ongoing software upgrades and improvements to the digital bookstore service.

The company operates 675 bookstores in the United States.

 

More From WIBX

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wibx950.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on WIBX 950 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on WIBX 950 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!