Mitchell Klipper

Back in July of last year, Barnes & Noble announced that its former CEO, William Lynch, was to resign immediately. The resignation set off a huge executive shuffle with Michael P. Huseby being named CEO of Nook Media and President of Barnes & Noble. The board must have liked Huseby's work as he's now been promoted.

Barnes & Noble announced this morning that it has a new CEO in Huseby. He will assume the role immediately and be "responsible for all of the company's business units including Barnes & Noble Retail,

Barnes & Noble has put up an excellent fight over the past few years against the rising tide of digital competitors like iPad, Kindle Fire, etc.

But it would seem that the bookseller has still come up a bit short, as the Wall Street Journal reports that the company has plans to shut down nearly 20 stores per year over the course of the next decade.