Barnes & Noble Education, Inc. Becomes Separate Public Company Listed
on New York Stock Exchange
Company Leadership, Store Managers Ring Opening Bell at NYSE
NEW YORK--(BUSINESS WIRE)--
Barnes & Noble, Inc. (NYSE:BKS), today announced that
it has completed the separation of its Retail and College businesses.
Barnes & Noble Education, Inc. is now an independent public company and
the parent of Barnes & Noble College, trading on the New York Stock
Exchange under the ticker symbol, "BNED." The Company's leadership team
joined with store managers to ring the opening bell at the NYSE this
morning to mark the milestone.
"This is an exciting day in the history of Barnes & Noble College," said
Max J. Roberts, Chief Executive Officer, Barnes & Noble Education. "We
are an industry leader with 724 campus stores serving colleges and
universities and more than 5 million students and their faculty across
the country. As a separate public company, we believe we are well
positioned to take advantage of future growth opportunities and enhance
our services for our current and future customers."
Following today's spinoff of College, Michael Huseby, former Chief
Executive Officer of Barnes & Noble, Inc., became Executive Chairman of
Barnes & Noble Education, which will have a separate Board of Directors.
As previously announced, Ronald D. Boire will take over as Chief
Executive Officer of Barnes & Noble, Inc. effective September 8, 2015.
Under the terms of the separation, stockholders who held BKS common
stock on July 27, 2015 (the "Record Date") received a distribution of
0.632 BNED common share for every one share of BKS common stock held as
of the record date.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS) is a Fortune 500 company and the
leading retailer of content, digital media and educational products. The
Company operates 648 Barnes & Noble bookstores in 50 states, and one of
the Web's largest e-commerce sites, BN.com (www.bn.com).
The NOOK digital business offers award-winning NOOK® products and an
expansive collection of digital reading and entertainment content
through the NOOK Store® (www.nook.com).
General information on Barnes & Noble, Inc. can be obtained by visiting
the Company's corporate website: www.barnesandnobleinc.com.
Barnes & Noble®, Barnes & Noble Booksellers®
and Barnes & Noble.com® are trademarks of Barnes & Noble,
Inc. or its affiliates.
For more information on Barnes & Noble, follow us on https://twitter.com/BNBuzz,
and like us on https://www.facebook.com/barnesandnoble.
About Barnes & Noble Education, Inc.
Barnes & Noble Education, Inc. (NYSE:BNED) enhances the academic and
social purpose of educational institutions. Through its Barnes & Noble
College subsidiary, Barnes & Noble Education serves more than 5 million
college students and their faculty through its 724 stores on campuses
nationwide, delivering essential educational content and tools within a
dynamic retail environment. The company is at the forefront of digital
education with its digital education platform, Yuzu®, weaving together
digital learning materials to enhance the teaching and learning
experience. Barnes & Noble Education acts as a strategic partner to
drive student success; provide value and support to students and
faculty; and create loyalty and retention, all while supporting the
financial goals of college and university partners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150803005100/en/
Barnes & Noble, Inc.:
Mary Ellen Keating, 212-633-3323
& Noble Education, Inc.:
Carolyn Brown, 908-991-2967
Investor Relations and
Source: Barnes & Noble, Inc.
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