Michael Huseby

Barnes & Noble CEO William Lynch has resigned. His resignation is effective immediately. Michael Huseby will now be the CEO of NOOK Media and president of Barnes & Noble. Allen Lindstrom has been promoted and will serve as the company's new CFO. 

Barnes & Noble said on Wednesday that Michael Huseby, the head of its digital division, has been named chief executive, effective immediately. The largest U.S. bookstore chain had been without a CEO since William Lynch resigned in July in the wake of several quarters of poor sales of Barnes & Noble's Nook e-readers. Huseby joined Barnes & Noble as finance chief in March 2012, and last summer was made head of its Nook digital unit. The bookseller, which is contending with declining book sales, is set to report its holiday sales today.