Barnes & Noble is looking for its fifth CEO since 2010, angering investors
New York — Barnes & Noble is starting a search for its fifth CEO since 2010 following Demos Parneros’s sudden termination, irking investors looking for a steady comeback strategy in the age of Amazon. The embattled book seller fired Parneros after only about 14 months on the job, citing a violation of company policies, according to a statement on Tuesday. It declined to specify further other than to say it wasn’t "due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud." "This news certainly reads like it is related to personal conduct. But there is a story here about consistency of leadership," Consumer Edge Research analyst David Schick said in a July 4 note. Given the pressures on the business, including Amazon’s continued encroachment, the company "needs consistency at the helm". Shares fell as much as 3.3% in Thursday trading in New York. They were already down 10% this year at Tuesday’s close. For years, Barnes &...
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