Over the past weeks we’ve only heard bad news related to Barnes & Noble, as their profits and revenues were announced and they dropped quite a bit. Also, the entire Nook lineup was canned, as far as I know. To follow that we’ve got today the resignation of Barnes & Noble CEO, William Lynch.
It’s possible that the failure of the Nook may have caused this move. The Nook HD slates couldn’t compete with their Amazon counterparts and devices like the iPad or Nexus 7 and even the recent price drops didn’t help much. Amazon was cruel enough to also drop prices in order to speed the demise of the Nook and have all the market for itself.
As the CEO left, now Michael P. Huseby has become chief executive of Nook Media and president of Barnes & Noble in its entirety. The new boss joined the company in 2012 as CFO and wil now work together with Mitchell Klipper, CEO of Barnes & Noble retail group to keep the company floating. Sad times for e-reading industry!