Barnes & Noble Closes Spin-Off Of Barnes & Noble Education - Quick Facts

(RTTNews) - Barnes & Noble Inc. (BKS) said that it has completed the separation of its Retail and College businesses.

Barnes & Noble Education, Inc. is now an independent public company and the parent of Barnes & Noble College, trading on the New York Stock Exchange under the ticker symbol, "BNED." The Company's leadership team joined with store managers to ring the opening bell at the NYSE this morning to mark the milestone.

Following today's spinoff of College, Michael Huseby, former Chief Executive Officer of Barnes & Noble, Inc., became Executive Chairman of Barnes & Noble Education, which will have a separate Board of Directors.

As previously indicated, Ronald D. Boire will take over as Chief Executive Officer of Barnes & Noble, Inc. effective September 8, 2015.

Under the terms of the separation, stockholders who held BKS common stock on July 27, 2015 received a distribution of 0.632 BNED common share for every one share of BKS common stock held as of the record date.