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Barnes & Noble completes spin off


New York - Barnes & Noble Inc. on Monday completed the separation of its retail store and college businesses.

Following the spinoff, Michael Huseby, former CEO of Barnes & Noble, became executive chairman of Barnes & Noble Education, which will have a separate board of directors.

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.” As previously announced, Ronald D. Boire will take over as CEO of Barnes & Noble Inc. effective Sept. 8, 2015.

“This is an exciting day in the history of Barnes & Noble College,” said Max J. Roberts, CEO, 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.”

Under the terms of the separation, stockholders who held Barnes & Noble common stock on July 27, 2015 received a distribution of 0.632 Barnes & Noble Education common share for every one share of Barnes & Noble stock held as of the record date.

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