Borders Cans Top Brass After Dismal Holiday Season

Bookseller reports 12% drop over '07, replaces CEO, others
By Harry Kimball,  Newser Staff
Posted Jan 5, 2009 4:00 PM CST
The exterior of a Borders bookstore in Sunnyvale, Calif.   (AP Photo)
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(Newser) – Borders will immediately restructure top management to counter a steep slide in sales, the Ann Arbor News reports. CEO George Jones has been replaced with Ron Marshall, a turnaround expert with book experience. Other top spots were shuffled to veterans of the Michigan-based company. The bookseller announced today that its holiday sales were off almost 12% compared with last year.