Barnes & Noble CEO William Lynch Steps Down

[The Straight Story]

Barnes & Noble chief executive officer William Lynch has resigned, effective immediately, the company announced in a statement Monday.

“I appreciate the opportunity to serve as CEO of this terrific Company over the last three years,” Lynch said in the release. “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.”

The company did not provide a reason for Lynch's departure.

Lynch took the reins at Barnes & Noble in 2010, spearheading the company's transition into digital and vigorously pushing to expand its Nook line of tablets. Barnes & Noble took a significant hit from its Nook business last quarter, wiping out profits from its bookstores. The bookseller decided to retreat from the tablet wars, spinning off its Nook hardware business in favor of tablets made by third-party manufacturers.

"The Nook division has been hemorrhaging money, was under review, and yet the company still came to its last earnings release with no definitive plan," said Brian Sozzi, CEO and chief equities strategist at Belus Capital Advisors.

http://www.huffingtonpost.com/2013/07/08/barnes-and-noble-ceo_n_3563302.html?utm_hp_ref=business

[Nye Bevan]

1. A slow death, just like Borders.

Barnes and Noble needs to get creative about how to survive. Quickly.

[TDale313]

2. I really hope they can survive.

Sad about what's been happening with the nook. It's a good product. The demise of brick and mortar bookstores is sad.

[thelordofhell]

3. Barnes & Noble is a book supermarket..........

That came in and put all the book farmer's markets out of business............now you're sad that they're going away?? Should have patronized mom & pop stores in the 1st place.........

[TDale313]

4. You're not wrong,

And I certainly did/do patronize the independent bookstores. And yes, B&N started the trend they're now becoming victim to. But I am sad to see one of the few places left you can actually physically go and browse and buy books struggling. So sue me.

[thelordofhell]

5. I go to the independent bookstores in my area

They always have great niche books at reasonable prices and the staffs know their books........