Thirteen months and fourteen days.
It was just over 13 months ago that B&N announced that it was hiring Ron Boire. the acting CEO of Sears Canada, to take over the CEO role at B&N.
And now they've fired him. It seems Boire's experience with a failing retailer in its declining years was not what B&N needed.
B&N 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.
Any guesses as to hos replacement? I hear Edward J Smith, formerly a commodore with the White Star Line, would make a great choice.
Or how about Max Pruss?