Barnes & Noble (BKS) Just Fired Its CEO

Posted on

Ronald Boire isn’t having such a good week after US bookstore chain Barnes & Noble fired him after less than just a year on the job. He was only appointed in September 2015.

Shares of Barnes and Noble fell more than 13% to an eight month low after the news was released.

According to the company’s board, Mr. Boire was “not a good fit”.

In a statement, Barnes & Noble said: “The board of directors determined that Mr Boire was not a good fit for the organization and that it was in the best interests of all parties for him to leave the company”.

While the company looks for a full time replacement, the company’s executive chairman Leonard Riggio, who is also one of its founders, will fill the job.

Mr. Riggio was scheduled to retire but will remain with the company until a new leader is found.

Disclaimer: We have no position in Barnes & Noble Inc. (NYSE: BKS) and have not been compensated for this article.