Board announces Ronald D. Boire out as CEO of Barnes & Noble
Brought in just over a year ago from Sears Canada, today the Board of Directors of Barnes & Noble said Ronald D. Boire was “not a good fit for the organization.” Executive Chairman, Leonard Riggio, who was scheduled to retire at the end of the next annual meeting will now stay on while the company scrambles for a replacement.
Boire was brought on with plenty of retail experience, having been at Brookstone and Toys “R” Us. But he lacked any publishing or book retail experience.
Is Boire heading back up north? Sears Canada announced just two weeks ago that Carrie Kirkman is leaving as president of the retailer, less than a year after starting the position. Actually, that is doubtful as the retailer has a habit of turning over chief executives every year – Douglas Campbell left in September of 2014 and Calvin McDonald left in September of 2013.
Here is the short announcement from Barnes & Noble – time to get your resume in order:
NEW YORK, NY – August 16, 2016 — The Board of Directors of Barnes & Noble, Inc. today announced the departure of its Chief Executive Officer, Ronald D. Boire. The Board of Directors determined that Mr. Boire was not a good fit for the organization and that it was in the best interests of all parties for him to leave the Company. The Company also said that its Executive Chairman, Leonard Riggio, who was scheduled to retire at the close of the Company’s Annual Meeting on September 14, will postpone his retirement until a later date.
The Company will immediately begin an executive search for a new CEO. Mr. Riggio, along with other members of the executive management team, will assume Mr. Boire’s duties. The Company will continue to execute on its previously announced strategic initiatives.