Barnes & Noble promotes Michael P. Huseby to Chief Executive Officer
Huseby joined B&N as Chief Financial Officer in March 2012, and was previously Executive Vice President and CFO at Cablevision Systems Corporation
There is a common belief in the mergers and acquisitions field that the surest sign a company is looking to a) be sold, or b) declare bankruptcy is the move the CEO out and promote the CFO. After all, if the future of the company is a financial transaction, not day-to-day management, who better to run things than the CFO?
That, I suppose is a pretty cynical way to view that the news that Barnes & Noble has named Michael P. Huseby to be its chief executive officer. Huseby joined B&N in March 2012 and was appointed president in July of last year – so he has already been in place in an executive management position. But Huseby is definitely coming to his role from a financial background as he was previously the CFO at Cablevision, and he was at Arthur Andersen as a Global Equity Partner for 23 years.
“Although a relative newcomer to the retail book business, he has quickly developed a comprehensive understanding of the unique opportunities and challenges the Company faces, and he has a vision for the future in which I am in complete accord. Mike also has a passion for bookselling, which makes him a perfect fit for this job,” Leonard Riggio, Chairman, Barnes & Noble said in the announcement.