Toulantis Resigns from B&N.com
by Jim Milliot -- Publishers Weekly, 8/19/2008 12:21:00 PM
Marie Toulantis, who has been associated with Barnes & Noble.com since 1999 and has led the company for more than six years, has resigned as CEO. Barnes & Noble is not directly replacing Toulantis and her duties will be divided up between Tom Burke, who is executive v-p of e-commerce for B&N.com, and Kevin Frain, B&N.com CFO who has added the title of executive v-p of e-commerce operations.
Toulantis first joined B&N in 1997 as executive v-p of finance and moved to the online unit in 1999 where she oversaw the company’s initial public offering and remained CEO when B&N took over full control of the company after it acquired Bertelsmann’s stake in the e-tailer. B&N had no comment on Toulantis’s departure other than a prepared statement from CEO Steve Riggio thanking her for her “years of service and leadership.”
B&N.com has never achieved the growth rate of Amazon’s media unit, but it posted its strongest revenue performance in 2007 when sales grew by more than 10%. By not directly replacing Toulantis B&N will save a rather hefty salary; in 2007 Toulantis earned just over $2 million in salary and incentives.
