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Huseby Named Barnes & Noble CEO

Former Cablevision, Charter Exec Gets Bookseller Nod 1/08/2014 3:40 PM Eastern

Book retailer Barnes & Noble said Wednesday that it has named cable industry veteran Michael Huseby as CEO.

Huseby was most recently Barnes & Noble’s chief financial officer, but he has a long history in the cable business, serving in executive positions at both Charter Communications and Cablevision Systems.

Huseby replaces William Lynch, who left the troubled bookseller in July.

Barnes & Noble has been on shaky ground for years – in 2011 Liberty Media invested  about $204 million in the company – amid a sluggish economy and disappointing performance of its Nook e-reader.

 “Since the day he joined the company, Mike has proven to be an excellent financial and business executive, whose leadership skills have earned the respect of the entire organization, as well as our Board of Directors,” said Barnes & Noble chairman Leonard Riggio in a statement. “Although a relative newcomer to the retail book business, he has quickly developed a comprehensive understanding of the unique opportunities and challenges the company faces, and he has a vision for the future in which I am in complete accord. Mike also has a passion for bookselling, which makes him a perfect fit for this job.”
Huseby joined Barnes & Noble as Chief Financial Officer in March, 2012,and led the Company’s financial organization until his appointment as President in July, 2013. Prior to joining Barnes & Noble, he had a distinguished career in the media communications industry having served as Executive Vice President and CFO of Cablevision Systems from 2004 until June, 2011. Huseby also served in leadership positions at Charter and AT&T Broadband. In addition, Huseby spent 23 years at Arthur Andersen as a Global Equity Partner.

“I am excited and honored to have been chosen as CEO of one of America’s most beloved companies,” Huseby said in a statement. “I am pleased, as well, to be joining an organization which is driven by both a sense of mission, and by a commitment to achieve excellence in everything it pursues. Led by Mitchell Klipper, Max Roberts and many exceptional leaders, not to mention thousands of dedicated booksellers, the company is well positioned to maintain and grow its leadership position in the worlds of bookselling and the sale of digital media. My role, as I see it, is to enhance and unlock the value of these businesses for our shareholders. We are well-positioned in today’s dynamic reading and learning markets and confident in our ability to provide our customers with the best content offerings, digital media and educational products available in today’s marketplace.”

 

September