News of yet more executive turn-over at Barnes & Noble reminded me of similar CEO musical chairs at Borders as they were on their gradual and then precipitous decline. A series of non-book experienced executives tried to reinvigorate and rebuild the chain but a combination of the speed of digital change and the basic lack of real book and publishing knowledge resulted in these executives only making the situation at Borders worse than when each arrived.
In 2007, somewhat new CEO George Jones outlined his strategy to shareholders. I thought his effort was vapid and penned a version of my own.
While more than 10 years have transpired there are still some points here that B&N might think about. Read the whole post here.
No telling what the new management of Borders has in mind.Read the whole post here.
Last week George Jones, the recently appointed CEO of Borders Stores, Inc. released his strategic vision for the next three years. There was little in the document to inspire, and it was replete with suggestions that the route to success for Borders was to travel the road already trod by their stronger competitors rather than develop a set of bold new ideas. Coupled with this mediocre set of objectives was a time frame that seems embarrassing given the critical issues Borders and the retail book industry are facing. Borders sales per store and per square foot which lag their competition are declining, they have embarked on a diversification program that continues to draw attention away for the core products and they propose to withdraw from the international market that appears to produce 50% more revenue per store than the domestic business. What then might George Jones have said.....