Ronald D. Boire, the former Sears executive who was named CEO of Barnes & Noble less than a year ago, is abruptly leaving after the company’s board “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,” according to an announcement just released by the company.
It’s the latest indication of the bookstore chain’s struggle to find its way in an era dominated by Amazon’s e-commerce portal and Kindle e-book business. The company in June reported ongoing declines in sales at both its traditional bookstore business and Nook e-reader unit. Sales of Nook devices, content and accessories fell 27.4 percent to $191.5 million for the full year.
Barnes & Noble says its executive chairman, Leonard Riggio, will postpone his scheduled retirement and assume Boire’s duties along with other members of the company’s executive team. The company says it will immediately start searching for a new CEO.