Barnes & Noble CEO William Lynch resigns


Barnes & Noble Inc. says William Lynch is resigning as chief executive after three years on the job.

The book retailer is naming Michael Huseby as president of the company and chief executive of its Nook Media unit.

The New York company also says that it has promoted controller Allen Lindstrom to the post of chief financial officer.

The moves comes just weeks after Barnes & Noble reported that sales plummeted at its bookstores in the latest quarter and its Nook e-book devices failed to keep up with competitors. That pushed the company to a net loss that more than doubled from a year ago.

Shares of Barnes & Noble slid in after-hours trading.

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