Barnes & Noble has fired its CEO, citing violations of company policies

Barnes & Noble Inc on Tuesday said it terminated Chief Executive Officer Demos Parneros, citing violations of the retail bookseller's policies.The company said the action was taken by its board, but did not provide further details."Parneros' termination is not due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto," the company said in a statement.Parneros will not receive severance pay and is no longer a member of the company's board of directors.Chief Financial Offier Allen Lindstrom, Chief Merchandising Officer Tim Mantel, and Vice President of Stores Carl Hauch will share responsiblities as the company searches for a new CEO.Business Insider contributed to this story.Join the conversation about this story
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