SRSCQ Sears Canada Inc (CE)

Barnes & Noble Inc. said Chief Executive Ronald Boire is leaving the company after its board determined that he "was not a good fit."

Former CEO Leonard Riggio, who is executive chairman, will postpone his retirement, the company said.

The bookstore chain said it would begin searching for a new CEO immediately. Barnes & Noble had tapped Mr. Boire to take over as CEO in July 2015, saying it would pull him from the top executive spot at Sears Canada Inc.

Mr. Boire didn't have experience in bookselling, but he has an extensive background in retail at Sears, Brookstone Inc., Toys "R" Us Inc. and Best Buy Co. He had started with Barnes & Noble in September.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

August 16, 2016 17:25 ET (21:25 GMT)

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