Barnes & Noble Promotes Demos Parneros To CEO As Leonard Riggio Steps Down

Barnes & Noble Inc. said Thursday that it has promoted Demos Parneros to chief executive of the company. He succeeds Leonard Riggio, who is stepping down from the role, but will remain chairman of the board. Parneros was previously chief operating officer, a role he's filled since November 2016. He's been a director of KeyCorp since January 2014 and at Modell's Sporting Goods since July 2009. Barnes & Noble shares are unchanged in premarket trading, and down 28% for the last year. The S&P 500 index is up 14% for the past 12 months.