Steve’s breakdown: Looks like it’s hitting the fan over at Barnes & Noble. Keep an eye on these guys. They haven’t had an AOR for a couple of years and this might trigger a move back.
NEW YORK, NY: That didn’t take very long.
Barnes & Noble on Tuesday announced the abrupt departure of CEO Ronald D. Boire, who has held the position for just under a year.
In a short and bluntly-worded statement, the book-seller announced that its board had determined that Boire “was not a good fit for the organization and that it was in the best interests of all parties for him to leave the company.”
The retailer said that executive chairman Leonard Riggio, who was due to retire at the close of the company’s annual meeting on Sept. 14, will postpone his retirement until a later date.
Barnes & Noble, which has been struggling to compete with online competitors and discounters, will immediately start the search for a new CEO. In the interim, Riggio, along with other members of the executive management team, will assume Boire’s duties.
Boire joined Barnes & Noble in September 2015, coming from Sears Canada where he served as CEO and president.