Barnes & Noble Hires Former Cable Exec as CFO

Barnes & Noble Inc. (NYSE: BKS) hired a chief financial officer with extensive experience in cable broadcasting, particularly with that industry's spin-offs as well as mergers and acquisitions, the New York company said Monday.

Michael P. Huseby, who will join Barnes & Noble on Tuesday succeeds interim CFO Allen Lindstrom, who took over that position in October after the full-time executive who had occupied the office, Joseph Lombardi, abruptly resigned.

Huseby most recently was chief financial officer and executive vice president of Cable Systems Corp. He also worked at AT&T Broadband, a former cable TV provider, from 1999 to 2002, and was an executive at Charter Communications, a large cable provider.

Huseby's arrival may signify a new direction for Barnes & Noble, which stopped calling itself the world's largest bookseller in November and now prefers to be billed the leading retailer of content, digital media and educational product.

The company said Huseby will join the company's executive leadership team and play a key role in determining and delivering on the strategy of the business.

Mike is a seasoned public company CFO and executive, has consistently built value at the companies he's served, and recognizes the big opportunities in our strong retail and rapid growth digital businesses, William Lynch, CEO of Barnes & Noble, said in a statement.

Shares of Barnes & Noble were off 20 cents to $13.20 in midday trading.