American bookseller Barnes & Noble has completed the separation of its Retail and College businesses.
Barnes & Noble Education, Inc is now an independent public company and the parent of Barnes & Noble College, trading on the New York Stock Exchange under the ticker symbol, “BNED.”
A B&N spokesperson said the company’s leadership team joined with store managers to ring the opening bell at the New York Stock Exchange yesterday (3rd August) morning to mark the moment.
Max J Roberts, c.e.o of Barnes & Noble Education, said: “This is an exciting day in the history of Barnes & Noble College. We are an industry leader with 724 campus stores serving colleges and universities and more than 5 million students and their faculty across the country. As a separate public company, we believe we are well positioned to take advantage of future growth opportunities and enhance our services for our current and future customers.”
Following the spinoff, Michael Huseby, former c.e.o of Barnes & Noble, Inc., became executive chairman of Barnes & Noble Education, which will have a separate Board of Directors. Ronald D Boire will take over as c.e.o of Barnes & Noble, Inc as previously announced, from 8th September 2015.