Barnes & Noble hires former Cablevision executive Michael Huseby as its new CFO
March 12, 2012
– Barnes & Noble said Monday that it hired former Cablevision executive Michael Huseby as its new chief financial officer.
Huseby, 57, replaces interim CFO Allen Lindstrom. The prior CFO, Joseph Lombardi, said in October he was leaving after a nine-year stint, but would stay on for the transition.
Huseby was executive vice president and chief financial officer of cable company Cablevision Systems Corp. from 2004 to 2011. Before that, he was chief financial officer at another cable company, Charter Communications.
Barnes & Noble is dealing with tough competition and changing book-reading habits and has focused on its e-book reader the Nook to improve results.
In the fiscal third-quarter its net income fell 14 percent, as rising costs offset a 5 percent revenue increase to $2.44 billion.
The company operates 691 bookstores and 641 college bookstores as well as Web site www.bn.com.
Barnes & Noble shares fell 4 cents to $13.35 in morning trading. They have traded in a 52-week range of $8.45 to $21.06 over the past year.
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