B&N can't make a profit, but the ailing retailer sure can hire new VPs.
In the past month B&N has announced the hiring of a new VP of Stores and a new VP of real estate development under what could well be described as a clean sweep policy.
One of the VPs who had been let go had been hired by the previous B&N CEO, Ron Boire, and held his position for under a year. Other senior management have also left the company during the past year.
The VP of stores, Carl Hauch, comes to Barnes & Noble via CityMed and Advance Auto Parts. He replaces Michael Ladd, who had held the position since last June. (Ladd came to B&N from Sears, possibly with Ron Boire.)
The new VP of real estate development, James Lampassi, joins B&N from Petco. He is replacing a 21-year Barnes & Noble veteran, David Deason.
He left a company that has struggled to respond to a pair of paradigm shifts. More and more retail sales move online and a lot of book sales shifted to digital, and B&N has not been able to cope with either change.
It has seen its revenues decline every year for the past decade, and its one real hope to reverse the trend, the Nook, imploded in the 2012 Christmas season and never recovered.
At this point there is no known solution to B&N's woes; perhaps we could crowd source one?
image by Henry Söderlund