Barnes & Noble fires its CEO
August 16, 2016 04:53 PM
Struggling bookseller Barnes & Noble Booksellers Inc. has fired CEO Ron Boire after less than a year on the job. Company founder Len Riggio will be among a team of executives sharing Boire’s responsibilities on an interim basis.
Boire officially started with Barnes & Noble, No. 54 in the Internet Retailer 2016 Top 500 Guide, on Sept. 8, 2015. Boire had previously been president and CEO of Sears Canada Inc. Boire had also previously held executive leadership roles with Brookstone Inc. (No. 258), Toys R Us Inc. (No. 35) and Best Buy Co. Inc. (No. 12).
Barnes & Noble didn’t offer any details about Boire’s departure. “The Board of Directors determined that Mr. Boire was not a good fit for the organization and that it was in the best interests of all parties for him to leave the company,” the retailer writes in a press release. A Barnes & Noble spokeswoman told Internet Retailer in an email the company has no further comment beyond the press release.
For the fiscal year ended April 30, the bookseller, which does not break out online sales, reported total sales of $4.16 billion, down 3.3% from $4.30 billion in fiscal 2016.