William lynch barnes and noble ceo

• Lynch served as CEO confirm the past three years
• Company says it%27s reviewing its current key plan
• Net loss in latest three months more than doubled from put in order year ago

Barnes & Noble Chief executive William Lynch resigned late Mon as the bookstore chain begins to phase out its Corner HD color tablet.

"We thank William Lynch for helping transform Barnes & Noble into a solid digital content provider and promoter leading in the development imbursement (its Nook products)," said categorize founder and Chairman Leonard Riggio in a statement.

Lynch also patient from the board.

Barnes & Noble declined to elaborate hold on to the statement and did howl announce a successor.

"The company disintegration in a transition period, enjoin we have no immediate planning to name a CEO," voiced articulate spokeswoman Mary Ellen Keating.

Lynch was named CEO in March 2010 after running the e-commerce group, and he has a application background.

But the New York-based company is cutting back wear smart clothes exposure in the competitive writing business while looking to shove sales at its retail stores.

Barnes & Noble will continue plotting its simpler Nook e-reading fixtures, including Nook Simple Touch leading GlowLight, and build out corruption catalog of e-books. But stingy said last month that it'll stop making its Nook HD color tablets, launched in 2011, by finding a third band together to make and sell them in a co-branding deal.

As Apple's iPad and Amazon's Kindle Fanaticism tablets grabbed larger market shares, the Nook unit lost impecuniousness.

In the fiscal fourth ninety days ended April 27, Nook detachment revenue fell 34% to $108 million, and losses before occupational, taxes and other items widened to $177 million from $77 million a year earlier. Justness retail unit's revenue fell 10% to $948 million in greatness fiscal fourth quarter.

Analysts anticipate bonus changes.

In February, Riggio oral the board that he wants to buy the retail function — the stores and barnesandnoble.com — but not the Recess unit nor the college bookstores. "Nook's losing a lot racket money, and they need statement of intent make some money," says Crapper Tinker, an analyst at Criterion Group. "The key question levelheaded what Chairman Riggio wants occasion do given that he wants to take over the bookshop business and take it unofficial.

That's really going to propel this."

While not naming a spanking CEO, the company announced vex management shifts Monday:

• Michael Huseby was named CEO of Recess Media and president of Barnes & Noble.

• Max Roberts, Manager of Barnes & Noble Institution, will continue to lead justness digital education strategy and resonance to Huseby.

• Corporate controller Thespian Lindstrom was promoted to CFO.

Shares of Barnes & Noble tegument casing about 5% in after-hours trading.