Barnes & Noble CEO resigns amid revenue drops

Unable to help the largest bookstore in the U.S. keep up in its e-book battle with Amazon, William Lynch stepped down Monday. A press release offered little insight.

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Lynch began his tenure at Barnes & Noble as president of its website operations.

The press release announcing Lynch’s exit is a fairly terse affair, with no concrete reason offered for his resignation. It includes a quote from the exiting executive, but it only offers well wishes rather than an explanation.

Instead of replacing Lynch, the company moves Michael Huseby, its CFO, to the Nook division CEO. Mitchell Klipper will remain the CEO of the company’s retail division and Max Roberts stays on as CEO of the college division. The CEOs-by-committee will report to the company’s founder and executive chairman, Leonard Riggio.

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