Barnes & Noble CEO Steps Down

William Lynch faced big Nook losses

By Matt Cantor,  Newser Staff

Posted Jul 9, 2013 9:05 AM CDT

(Newser) – Shortly after news of big losses for Barnes & Noble's Nook, the company's CEO is exiting. William Lynch, named CEO in early 2010, had made the firm's digital business paramount, the Wall Street Journal notes, working on an array of Nook gadgets. Now, however, Barnes & Noble is quitting manufacturing its own color tablets. "Barnes & Noble was too small to compete in the tablet business in a world of giants," says an analyst. A new CEO hasn't been named, but CFO Michael Huseby has been dubbed chief executive of Nook Media LLC and president of Barnes & Noble—both new positions, the Journal reports.

FILE - In this Oct. 20, 2009 file photo, William Lynch, then president of Barnes & Noble.com, unveils the nook electronic-book reader during a news conference in New York. Barnes & Noble Inc. on Monday, July 8, 2013 said that Lynch has stepped down as CEO, effective immediately, just...
FILE - In this Oct. 20, 2009 file photo, William Lynch, then president of Barnes & Noble.com, unveils the "nook" electronic-book reader during a news conference in New York. Barnes & Noble Inc. on Monday,...   (AP Photo/Mary Altaffer, File)
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