Mr. Michael Huseby was hired by the company last summer, the time of the year where the company’s sales was silently and gradually declining. Last Wednesday, Mr. Michael Huseby was promoted as the new CEO of the company, a day before they had officially announced that their sales were already falling.
The CEO position was abandoned by Mr. William Lynch last July mainly because of the bad turnout of what could have saved their company, the Nook Tablet, as it was not able to withstand the competition against Amazon’s Kindle and other tablets.
Last?Thursday, Barnes & Noble announced that Nook sales fell more than 60% this holiday season compared with its sales last 2012. However, the 2012 season included two new Nook products, unlike the 2013 holiday on which the company was not able to do new models and new innovations.
Since Mr. William Lynch’s main project was not able to do what it was entitled to do, the company had decided to give his place to Mr. Michael Huseby.
Mr. Michael Huseby is expected to create the magic that Barnes & Noble needs right now. As someone who is raised in the fields of finance and management, the publishing company seems to be seeing a ray of hope in his leadership. Huseby?originally joined Barnes & Noble to be its chief financial officer last March 2012. Before that he held the same position at?Cablevision?(CVC,?Fortune 500)?from 2004 to 2011.
The rest of Huseby’s resume includes stints at?Charter Communications?(CHTR,Fortune 500)?and?AT&T?(T,?Fortune 500)?Broadband (which was then sold to Comcast?(CMCSA,?Fortune 500). He also spent 23 years as a partner at Arthur Andersen.
Perhaps Barnes & Noble thinks that Huseby has what it takes to solve the sudden decline of sales they are experiencing now.
The new administration of Barnes & Noble can only mean new innovations and developments as well. People are expecting new products to be produced, perhaps more efficient and useful than Lynch’s Nook Tablet, and a new delivery system that can compete to Amazon’s newly launched drone system.
Let us see if Huseby really has the magic in him.
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