Barnes & Noble Fires Its CEO Without Severance Pay

Image by Mike Mozart

Barnes & Noble Inc. fired Chief Executive Officer Demos Parneros for violating company policies and said he’ll exit the post without severance, report multiple sources.

USA Today reports that the move  came on the advice of  Barnes & Noble’s law firm, Paul, Weiss, Rifkind, Wharton & Garrison.

“Parneros will not receive any severance payments after his departure and he is no longer a member of the company’s board of directors,” writes reporter David Pan. “He will not be replaced in the interim by an individual, but rather that his duties will be shared by several executives, including Chief Financial Officer Allen Lindstrom.”

Read the USA Today article.