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BARNES & NOBLE (NYSE: BKS) APPOINT NEW CEO

  • Waterstones’ boss to take over Barnes & Noble
  • Elliot Management now owns both Waterstones and Barnes & Noble

Following a successful takeover of Barnes & Noble (NYSE: BKS), a bookstore which owns the largest number of retail outlets in the United States, investment firm Elliot Management appointed James Daunt as the new CEO.

Daunt was previously heading the UK book retailer Waterstones, also owned by Elliot Management. Although Daunt will be based in New York, he will remain as the boss of Waterstones.

Elliot completed the purchase of Barnes & Noble last week, valuing the company at close to $700 million.