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Barnes & Noble terminates CEO, says he violated company policies

Barnes & Noble Inc. BKS, -Four.00% announced the termination of its leader government Tuesday afternoon, saying that he had committed "violations of the company's policies." The bookstall chain did not cross into more detail on why its board had determined to fire Demos Parneros, best explaining it have been recommended via an outdoor regulation company on the resolution. A trio of most sensible executives -- CFO Allen Lindstrom, CMO Tim Mantel and Carl Hauch -- will percentage CEO duties in the meanwhile, with the help of Executive Chairman Leonard Riggio. The company said it'll begin in search of a new CEO immediately, and reaffirmed previous financial guidance. Barnes & Noble stock closed with a Four% decline at $6 a percentage, and feature declined 10.five% up to now this 12 months, as the S&P 500 index SPX, -Zero.49% has added 2%.