Barnes and Noble Promotes New CEO

NEW YORK — Barnes & Noble, Inc. has promoted Demos Parneros from Chief Operating Officer to Chief Executive Officer of the bookstore chain effective immediately. Company founder Leonard Riggio will step down as CEO and remain Chairman of the Board of Directors.

“It has become abundantly clear over the last five months that Demos is a perfect fit for our Company and an outstanding choice for Chief Executive Officer,” said Leonard Riggio. “He is highly respected by our Board of Directors and our leadership team, and I believe Demos is fully prepared to help foster a new era of growth for Barnes & Noble.”

Mr. Parneros has been Chief Operating Officer of Barnes & Noble since November 2016. He joined the Company with 30 years of leadership experience in all aspects of retail management, including operations, human resources, merchandising, e-commerce, marketing and real estate. Prior to joining the Company, Mr. Parneros served as President, North American Stores & Online at Staples, Inc. He joined Staples in 1987 as a General Manager and worked his way up the ranks through multiple management positions, including Senior Vice President Mid-Atlantic Operations, President, US Stores, President, US Retail, and President North American Stores & Online, where he was responsible for a team of 50,000 associates and 1,800 stores and Staples’ online business. Mr. Parneros has been a director of KeyCorp since January 2014 and a director at Modell’s Sporting Goods since July 2009.

He received his B.S. from New York University and graduated from Harvard Business School’s Advanced Management Program.

The company operates 634 Barnes & Noble bookstores in all 50 states