Lynch has been replaced by CFO Michael P. Huseby, who will now have the titles Chief Executive Officer of NOOK Media LLC and President of Barnes & Noble, Inc.
Max J. Roberts will remain Chief Executive Officer of Barnes & Noble College and Mitchell Klipper will remain as Chief Executive Officer of the Barnes & Noble Retail Group.
Lynch, who became CEO in 2010 after years at B&N's web division, was expected to help the company jump into a digital future, but so far they have failed. The company began its Nook brand, which was successful for e-readers but not so much for tablets. The underpowered tablets never saw strong sales and the company recently began a fire sale, dropping prices by as much as $130 for already cheap devices.
During the company's last earnings report, it was revealed that the Nook division only saw revenue of $108 million, down 34 percent year-over-year. The company has discontinued manufacturing Nook tablets, and will now license the platform to OEMs.
Written by: Andre Yoskowitz @ 9 Jul 2013 9:22
