This process will be overseen by a Special Committee of four independent directors: George Campbell Jr., William Dillard II, Margaret Monaco and Patricia Higgins, who will serve as the committee's chair. The Special Committee will then recommend a course of action to the company's full board.
The board stated: "As the world's largest bookseller, Barnes & Noble has an iconic brand and unique competitive advantages [that] we believe will position the company to succeed over time in a rapidly changing market. The board is confident in Barnes & Noble's strategy and fully supportive of the senior management team, which is delivering explosive growth in our fast-developing digital business. The board has concluded that a review of strategic alternatives is the appropriate next step to take full advantage of our compelling digital opportunities and to create value for shareholders, customers and employees."