Barnes & Noble promotes Nook head to CEO

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Associated Press

Posted on January 8, 2014 at 9:04 AM

Updated Wednesday, Jan 8 at 9:04 AM

NEW YORK (AP) — Book seller Barnes & Noble has promoted the head of its Nook business to chief executive of company.

The company says Michael Huseby will take the role immediately. The prost has been vacant since June when CEO William Lynch left the company.

And it comes after the busy holiday season that can account for up to 40 percent of a retailer's sales.

Huseby will take the helm of the New York company as it struggles to turn around results in the face of tough competition and a book market shifting to digital books. The company is also dealing with an SEC accounting probe.

Huseby joined Barnes & Noble as CFO in 2012 and was promoted to president of the company and CEO of Nook Media in 2013.

Its shares slipped 5 cents to $14.70 in premarket trading.

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