Analysis: Barnes & Noble needs to appoint new CEO ‘as quickly as possible’
The departure of Demos Parneros from Barnes & Noble [Parneros was terminated on Tuesday for violating company policy] will make little material difference to the company in the immediate term. But does leave the bookseller leaderless at a time when it desperately needs a sense of direction.
Under Parneros’ management, Barnes & Noble had started to make much-needed changes to its stores, offer, and services. However, the journey remains far from complete and much more change is required before the chain can claim to be back on an even keel.
Although we recognize that there is talent within the current leadership group, we are not keen on the CEO’s responsibilities being shared among its members. Management by committee is rarely successful and usually leads to inertia. That is the last thing Barnes & Noble needs and, as such, we believe that it is imperative the company appoint a new CEO as quickly as possible.
Although the reasons for Parneros’ departure are unclear, we applaud Barnes & Noble for taking swift action to mitigate anything that could damage its image as an inclusive business that serves education, families, and communities.
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