Barnes & Noble hires Cablevision exec as CFO
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.