Barnes & Noble Chairman Leonard Riggio To Step Down - Quick Facts

(RTTNews) - Barnes & Noble, Inc. (BKS) Founder & Chairman, Leonard Riggio, said he will retire as chairman of the company following the annual shareholder meeting currently planned for September, and intends to remain on its board of directors.

"I've done everything I have wanted to do in business and now it is time for me to pursue the many other endeavors related to my philanthropic and social interests," Riggio said.

The Board has appointed Paul Guenther to serve as non-executive chairman upon Riggio stepping down.

Guenther, former President of Paine Webber Group, Inc., has been a member of the Barnes & Noble Board since 2015 and serves as Chair of the Audit Committee. The company's chief executive officer, Ron Boire, will report to the board of directors.