LA Times: New Barnes & Noble CEO calls digital books 'the key to our future'
The elevation of online head William Lynch as the chain contends with lower store sales and a stock fight with billionaire investor Ron Burkle is seen by analysts as an embrace of the future.
Book giant Barnes & Noble Inc., in the midst of a heated stock ownership battle with Los Angeles billionaire investor Ron Burkle, has announced a major shake-up of its top management.
The world's largest bookseller said Thursday that it was replacing Chief Executive Steve Riggio with William Lynch, the head of its online division, in a move many saw as a sign that the company was embracing the changing nature of the book business.
"It's a technology person running a bookstore, and that's a big deal," said David Schick, an analyst at Stifel, Nicolaus & Co. "They don't have their head in the sand about what's going on out there. I think that's the single biggest take-away." ...
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