According the release, several other “organizational changes” occurred at the company, including the appointment of Michael P. Huseby as the CEO of NOOK Media LLC and president of Barnes & Noble, and the promotion of Allen Lindstrom to Chief Financial Officer.
The book retailer has seen some financial difficulty as of late, according to a fiscal report issued last month: fourth quarter consolidated revenues decreased 7.4% to $1.3 billion as compared to the prior year.
The digital portion of the brand, which it calls NOOK, had revenues of $108 million for the quarter and $776 million for the full year, decreasing 34% for the quarter and 16.8% for the year, according to the fiscal report.
The retailer also said last month that while it planned to continue to design e-reader devices it was planning stop making the Nook HD color tablets which were designed to compete against Amazon’s Kindle e-readers.
The retail portion of the brand, which consists of the Barnes & Noble bookstores and BN.com, has also seen financial difficulties this year. According to the fiscal report, the retail brand had revenues of $948 million for the quarter and $4.6 billion for the full year, decreasing 10.0% for the quarter and 5.9% for the fiscal year.
In the release, Barnes & Noble chairman Leonard Riggio said that the retailer was “in the process of reviewing its current strategic plan and will provide an update when appropriate.”