Barnes & Noble Names Nook Leader to Be CEO

The president and CEO of the book retailer's NOOK business unit gets his second promotion in less than two years.

Jan 8, 2014 at 11:10AM

Two months shy of his second anniversary with Barnes & Noble (NYSE:BKS), and just six months removed from a promotion to president and CEO of the NOOK business unit, Michael Huseby has been named CEO of the book retailer and will take a seat on its board of directors, Barnes & Noble announced today. Huseby was initially hired as Barnes & Noble's CFO in March 2012.

Following 23 years with accounting and consulting firm Andersen Worldwide, Huseby spent several years as CFO of telecom and media companies. Immediately prior to joining Barnes & Noble in 2012, Huseby spent seven years with Cablevision Systems, leaving in 2011 as its executive vice president and CFO.

Speaking to Huseby's lack of retail experience, Barnes & Noble founder and Chairman of the Board Leonard Riggio said in a press release: "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."

Huseby added, "Led by Mitchell Klipper [CEO of Barnes & Noble Retail], Max Roberts [CEO Barnes & Noble College] and many exceptional leaders, not to mention thousands of dedicated booksellers, the company is well positioned to maintain and grow its leadership position in the worlds of bookselling and the sale of digital media."

The CEO post has been vacant since July when CEO William Lynch left the company. Huseby was named CEO of NOOK Media at that time. Huseby will take the helm of the New York company as it struggles to turn around results in the face of tough competition and a book market that is shifting to digital books.

-- Material from The Associated Press was used in this report.

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Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool owns shares of Barnes & Noble. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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