Barnes & No­ble hires Cable­vi­sion exec as CFO

The Washington Times Daily - - Business -

NEW YORK | Barnes & No­ble says it hired for­mer Cable­vi­sion ex­ec­u­tive Michael Huseby as its new chief fi­nan­cial of­fi­cer.

Mr. Huseby, 57, re­places in­terim CFO Allen Lind­strom. The prior CFO, Joseph Lom­bardi, said in Oc­to­ber he was leav­ing af­ter a nine-year stint, but would stay on for the tran­si­tion.

Mr. Huseby was ex­ec­u­tive vice pres­i­dent and chief fi­nan­cial of­fi­cer of cable com­pany Cable­vi­sion Sys­tems Corp. from 2004 to 2011.

Barnes & No­ble is deal­ing with tough com­pe­ti­tion and chang­ing book-read­ing habits and has fo­cused on its e-book reader, the Nook, to im­prove re­sults.

In the fis­cal third-quar­ter its net in­come fell 14 per­cent, as ris­ing costs off­set a 5 per­cent rev­enue in­crease to $2.44 bil­lion.

Barnes & No­ble shares gained 6 cents to $13.45 in morn­ing trad­ing.

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