Borders CEO Ron Marshall Resigns
Ron Marshall, CEO of Borders Group, Inc., has resigned from his post at the international bookselling company after just over a year of being on the job.
Marshall’s departure from the second-largest bookstore chain in the United States was announced following the company’s decreased shares caused by weak sales during the critical holiday shopping season. Further, it is concurrent with today’s ever-rising trend of customers leaning towards purchasing electronic versions of books instead of getting hold of physical copies of their desired bestsellers. With the growing popularity of electronic book-reading devices such as Barnes & Noble’s Nook and Amazon’s Kindle (which incidentally was the hottest-selling item on Amazon last Christmas season), it’s no wonder Borders, as well as most other booksellers, is experiencing difficult times.
Marshall, whose resignation is effective immediately, will go on to work as chief executive of Great Atlantic & Pacific Tea Co. Michael J. Edwards, the chief merchandising officer at Borders, will serve as interim CEO.