Barnes & Noble boots out CEO for policy violations
Barnes & Noble Inc
The company said the action was taken by its board, but did not provide further details.
"Parneros` termination is not due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto," the company said.
Barnes & Noble said Parneros will not receive any severance payment and he is no longer a member of the board.
Parneros, who joined the company as chief operating officer in November 2016, became its CEO in April 2017.
The company said it would begin search for a new chief executive, and a leadership group would share the responsibilities of the CEO till a suitable candidate is found.
The company`s board was advised by law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP on Parneros` removal.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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