BASKING RIDGE, N.J.--(BUSINESS WIRE)--Barnes & Noble Education, Inc. (NYSE: BNED), a leading solutions provider for the education industry, today announced leadership changes in its Retail segment, currently the Company’s largest operating unit, that will enable BNED to accelerate the execution of its strategy and better align its cost structure with current business trends by consolidating certain leadership roles.
Jonathan Shar has been appointed to the newly created position of Executive Vice President, Retail and Client Solutions, effective immediately. In this role, Mr. Shar will have overall responsibility for the growth and profitability of the Retail segment, including the development and implementation of client-focused solutions that deliver innovation and increased value to the higher education marketplace.
The Company also announced that Lisa Malat has been appointed President of Barnes & Noble College (BNC), effective immediately. In this role, Ms. Malat will have overall responsibility for the growth and profitability of BNC, providing strategic direction and operational leadership across the business, which manages physical campus bookstores and e-commerce sites nationwide.
Both Mr. Shar and Ms. Malat will continue to report directly to Michael P. Huseby, Chief Executive Officer and Chairman of BNED.
“Both Lisa and Jonathan have made significant contributions to our company as we’ve evolved our offerings to best serve our rapidly changing Retail market,” said Michael P. Huseby, Chief Executive Officer and Chairman, BNED.
“Since joining BNED in 2018, Jonathan has contributed significantly to our current strategy and has also brought essential customer and product perspectives to our team. He has led the development and implementation of valuable new solutions, including our new Adoption & Insights Portal, and continues to lead the design of our new e-commerce delivery system. His product delivery and personal engagement have also significantly contributed to our success in gaining new business. In his new role, Jonathan’s leadership and deep expertise in scaling valuable digital offerings, coupled with his new oversight of our physical courseware delivery, will accelerate our ability to deliver new innovative solutions, including our FirstDay™ Complete courseware delivery model, which is rapidly gaining market momentum with our campus partners.”
“Lisa has been a key contributor to BNC for more than two decades. She became Chief Operating Officer of BNC in 2018, and, since that time, she has been instrumental in developing our new go-to-market strategy, which has proven very effective in driving new business growth. She has led the development and implementation of our strategy for a reimagined omnichannel collegiate retail experience and continues to lead our strategy to accelerate growth in General Merchandise, one of the largest revenue opportunities for the Company. During a challenging time in our retail business, Lisa has demonstrated strong strategic and operational leadership that will greatly benefit the teams she will now lead that directly serve our campus partners and students.”
“I look forward to continuing to work closely with Jonathan and Lisa. I’m excited about the positive impact their individual and combined leadership strengths will have on BNED’s ability to accelerate the creation of customer and shareholder value as we execute our growth initiatives.”
BNED also announced that Barry Brover’s positions as Executive Vice President, Operations of BNED and Executive Vice President of BNC have been eliminated and that he will be leaving the Company at the end of the current fiscal year. Mr. Brover’s former responsibilities are now shared by Ms. Malat and Mr. Shar in their new roles.
“On behalf of the entire BNED Board and management team, I would like to thank Barry for his many contributions over his 34 years of service to BNED,” said Mr. Huseby. “Barry has been an important part of BNED’s evolution from the very early successes of BNC to BNED’s more recent transition from a private to a public company. His financial and operational leadership truly helped advance BNED’s mission and our ability to better serve our campus partners, faculty, students, employees and other stakeholders. We are grateful that Barry has agreed to work with our management team through the end of the fiscal year to ensure a smooth transition, and we wish him only the best in his future endeavors.”
ABOUT BARNES & NOBLE EDUCATION, INC.
Barnes & Noble Education, Inc. (NYSE: BNED) is a leading solutions provider for the education industry, driving affordability, access and achievement at hundreds of academic institutions nationwide and ensuring millions of students are equipped for success in the classroom and beyond. Through its family of brands, BNED offers campus retail services and academic solutions, a digital direct-to-student learning ecosystem, wholesale capabilities and more. BNED is a company serving all who work to elevate their lives through education, supporting students, faculty and institutions as they make tomorrow a better, more inclusive and smarter world. For more information, visit www.bned.com.
