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Barnes & Noble Gets Closer to Breakup as CEO Resigns

Barnes & Noble Inc. moved closer to breaking up the largest U.S. bookstore chain after its chief executive officer resigned and it named a manager with a history of spinning off units to its most senior position.

William Lynch stepped down yesterday, effective immediately, and Barnes & Noble promoted Chief Financial Officer Michael Huseby, 57, to be president of the company and CEO of Nook Media. It isn’t looking for a new CEO and Huseby will report to Leonard Riggio, the chain’s chairman, founder and largest shareholder, the New York-based company said.