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Barnes & Noble has appointed a new chief executive officer in the form of Michael Huseby, its former chief financial officer.
The appointment of Huseby, who has been at the company just 22 months and joined as a “relative newcomer” to bookselling, was announced today (8th January), five months after former c.e.o. William Lynch resigned.
At the time, B&N did not provide a reason for Lynch’s resignation, although he took the reins at B&N in 2010, spearheading the company's transition into digital and vigorously pushing to expand its Nook line of tablets, which have recently seen a spiraling sales decline.
New c.e.o Huseby joined B&N as chief financial officer in March 2012 and was promoted to president in July 2013.
Leonard Riggio, chairman of B&N said: “Since the day he joined the company, Mike has proven to be an excellent financial and business executive, whose leadership skills have earned the respect of the entire organization, as well as our board of directors. Although a relative newcomer to the retail book business, he has quickly developed a comprehensive understanding of the unique opportunities and challenges the company faces, and he has a vision for the future in which I am in complete accord."
He added: “Mike also has a passion for bookselling, which makes him a perfect fit for this job.”
Huseby said he was “excited” and “honored” to be chosen as the c.e.o. of “America’s most beloved companies.”
Riggio said the company was “well-positioned” to maintain and grow its leadership position in bookselling and digital media. He added: “My role, as I see it, is to enhance and unlock the value of these businesses for our shareholders. We are well-positioned in today’s dynamic reading and learning markets and confident in our ability to provide our customers with the best content offerings, digital media and educational products available in today’s marketplace.”