Barnes & Noble’s Longtime Leader, Leonard Riggio, Is Stepping Down

When Leonard Riggio bought Barnes & Noble in 1971, it consisted of a single struggling store in Manhattan. Over time, with swagger and an unwavering belief in the value of physical bookstores, he turned it into the country’s largest bookselling chain.

On Wednesday, the company announced that Mr. Riggio, the founder and executive chairman of Barnes & Noble Inc., would retire in September.