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Barnes & Noble terminates CEO, says he violated company policies
Barnes & Noble Inc. announced the termination of its chief executive Tuesday afternoon, saying that he had committed “violations of the company’s policies.” The bookstore chain did not go into more detail on why its board had decided to fire Demos Parneros, only explaining it had been advised by an outside law firm on the decision. A trio of top executives — CFO Allen Lindstrom, CMO Tim Mantel and Carl Hauch — will share CEO duties in the interim, with assistance from Executive Chairman Leonard Riggio. The company said it will begin searching for a new CEO immediately, and reaffirmed previous financial guidance. Barnes & Noble stock closed with a 4% decline at $6 a share, and have declined 10.5% so far this year, as the S&P 500 index has added 2%.
Source : MTV
