Barnes & Noble CEO Fired
Barnes & Noble Tuesday fired CEO Demos Parneros for violating company policies. The retailer didn’t detail which policies were violated, but said the firing didn’t stem from any disagreement with the company regarding “financial reporting, policies or practices.” Parneros won’t receive severance and is no longer a director on Barnes & Noble’s board, the company said. Barnes & Noble said it fired Parneros under the advice of its law firm Paul, Weiss, Rifkind, Wharton & Garrison. The chain will start a search for a new CEO and has tapped CFO Allen Lindstrom, Chief Merchandising Officer Tim Mandel and Carl Hauch, VP of Stores, to run the company in the interim. Parneros joined the company from Staples in 2016 and was named CEO the following year.