Tuesday, July 03, 2018

Barnes & Noble CEO is Dismissed for "Policy Violations"

This is something the book retailer will not need: Another search for a CEO in a volatile retail environment. 

From the Reuters report:
Barnes & Noble said Parneros will not receive any severance payment and he is no longer a member of the board.  Parneros, who joined the company as chief operating officer in November 2016, became its CEO in April 2017.

The company said it would begin search for a new chief executive, and a leadership group would share the responsibilities of the CEO till a suitable candidate is found.
The company’s board was advised by law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP on Parneros’ removal.


Inkling said...

Fired for "policy violations" and yet there is also this remark:

“Parneros’ termination is not due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto,” the company said.

Strange, really strange.

MC said...

Yes, leaves a lot to speculate on.