Barnes & Noble CEO resigns

Reuters

Barnes & Noble Inc Chief Executive Officer William Lynch has resigned effective immediately, the U.S. bookstore chain said on Monday.

The news came just weeks after the company reported another quarter of dismal results, led by a 34 percent drop in sales of Nook devices and e-books business, and said it expected sales to continue to decline this fiscal year at its bookstores.

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Its shares fell 2.6 percent to $17.20 in after-market trading on Monday.

(Reporting By Dhanya Skariachan; Editing by Carol Bishopric)