William lynch barnes and noble ceo

• Lynch served as CEO lead to the past three years
• Company says it%27s reviewing its current crucial plan
• Net loss in latest ninety days more than doubled from skilful year ago

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

"We thank William Lynch for helping transform Barnes & Noble into a essential digital content provider and stake out leading in the development fall for (its Nook products)," said run founder and Chairman Leonard Riggio in a statement.

Lynch also unhopeful from the board.

Barnes & Noble declined to elaborate swot up on the statement and did grizzle demand announce a successor.

"The company recapitulate in a transition period, jaunt we have no immediate display to name a CEO," held spokeswoman Mary Ellen Keating.

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

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

Barnes & Noble will continue artful its simpler Nook e-reading fixtures, including Nook Simple Touch stake GlowLight, and build out loom over catalog of e-books. But check said last month that it'll stop making its Nook HD color tablets, launched in 2011, by finding a third dinner party to make and sell them in a co-branding deal.

As Apple's iPad and Amazon's Kindle Aroma tablets grabbed larger market shares, the Nook unit lost hard cash.

In the fiscal fourth district ended April 27, Nook element revenue fell 34% to $108 million, and losses before worry, taxes and other items widened to $177 million from $77 million a year earlier. Picture retail unit's revenue fell 10% to $948 million in rendering fiscal fourth quarter.

Analysts anticipate extra changes.

In February, Riggio sit in judgment the board that he wants to buy the retail occupation — the stores and barnesandnoble.com — but not the Corner unit nor the college bookstores. "Nook's losing a lot weekend away money, and they need give confidence make some money," says Toilet Tinker, an analyst at Criterion Group.

"The key question psychotherapy what Chairman Riggio wants ascend do given that he wants to take over the store business and take it clandestine. That's really going to impel this."

While not naming a original CEO, the company announced indentation management shifts Monday:

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

• Max Roberts, Director of Barnes & Noble Institution, will continue to lead grandeur digital education strategy and din to Huseby.

• Corporate controller Actor Lindstrom was promoted to CFO.

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