Barnes & Noble to Pay Former CEO $4.8 Million

By Taylor Knight

Former Barnes & Noble CEO Ron Boire will be getting $4,825,600 from the bookstore chain to settle all issues related to his dismissal in August after just a year on the job. In exchange for the payment, Boire agreed to forfeit all stock awards. That included 368,098 shares he was granted last September when he became CEO; 143,540 restricted stock units; and another 143,540 performance-based shares.

Total Retail’s Take: Well, that softens the blow a bit. Boire made out with a payday four times his annual salary after being deemed “not a good fit” for Barnes & Noble. The company’s founder, Leonard Riggio, came out of retirement to serve as interim CEO and will keep this position while the company looks for a new leader. Riggio said the company won't rush to pick a new chief, and will look for an executive with some understanding of specialty retailing rather than a person with just a broad retail background.

1 2 All

0 Comments

View Comments

Taylor Knight Author's page Taylor Knight is an associate content editor for Target Marketing and Total Retail. She enjoys writing and creating video content to interact with an audience.