Barnes & Noble has promoted the head of its Nook business to chief executive of company.
The struggling retailer said Wednesday Michael Huseby, 59, will take the role immediately. The post has been vacant since July when CEO William Lynch left the company.
It comes after the busy holiday season that can account for up to 40 percent of a retailer’s sales. Barnes & Noble will release holiday sales figures on Thursday.
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 that is shifting to digital books. The company is also dealing with an accounting probe by the Securities and Exchange Commission.
In its most recent fiscal second quarter ended Oct. 26, the company returned to a profit, helped by cost cuts, but revenue fell 8 percent declining across all segments.
