Barnesandnoble.com Names Steve Riggio Vice Chairman and Acting Chief Executive Officer

Posted on January 12, 2000

barnesandnoble.com inc., has announced that Steve Riggio will become vice chairman and acting chief executive officer of the company. The company also said it expects to name a new chief executive officer shortly, replacing Jonathan Bulkeley, who resigned to focus on his investment in QXL, an Internet auction business, in which he serves as non-executive chairman, and other Internet investments.

While serving as chief operating officer of Barnes & Noble, Inc., Steve Riggio conceptualized the Internet strategy and founded barnesandnoble.com, which was subsequently established as a free-standing venture. As vice chairman of barnesandnoble.com, he will be relieved of all operating responsibilities at Barnes & Noble, Inc., and devote 100 percent of his efforts to the company's Internet enterprises.

"From the outset, Steve was a big believer in the potential of e-commerce," said Leonard Riggio, chairman and chief executive officer of Barnes & Noble, Inc. "His decision to move aggressively into this exciting new world has led to our emergence as, by far, the largest traditional retailer online, as well as one of the world's largest and most frequently visited Web sites. We believe Steve is one of the most visionary, experienced and capable leaders in the world of e-commerce."

"I am really looking forward to joining the great team of executives I previously worked with, all of whom have brought barnesandnoble.com to the forefront of e-commerce during the past two years," Steve Riggio said. "My intention is to build on the great momentum of barnesandnoble.com and guide the company into an exciting new stage of expansion and growth."