“Barnes & Noble Inc. CEO William Lynch resigned on Monday, an acknowledgement that its digital division Nook has failed to compete successfully in the e-reader and tablet markets and possibly presaging a further shake-up in the company,” Alistair Barr and Dhanya Skariachan report for Reuters.
“Chairman and founder Leonard Riggio, the largest shareholder of Barnes & Noble, said the company is reviewing its strategic plan and announced a series of executive changes,” Barr and Skariachan report. “The new appointments suggest Riggio may be stepping up efforts to re-organize the company by separating the Nook business from the chain of hundreds of Barnes & Noble physical stores. But with Microsoft Corp and Pearson Plc in the wings as minority stakeholders in Nook, it’s not clear how this will be all be resolved, analysts said.”
MacDailyNews Take: Whatever Microsoft touches turns to unsold.
Barr and Skariachan report, “Signs that Barnes & Noble had come to a turning point with Nook came in the latest quarter, when it reported dismal results, led by a 34 percent drop in Nook sales. It also said it would stop making Nook tablets, marking the end of a costly attempt to compete with Amazon, Apple, and Google in the tablet wars.”
Read more in the full article here.
MacDailyNews Take: The price of failure.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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