US-based retail bookseller Barnes & Noble has announced the departure of chief executive officer Ronald D Boire.

The announcement was made by the company’s board of directors.

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The board added that the Boire was not a suitable fit for the organisation and that 'it was in the best interests of all parties for him to leave the company'.

"It was in the best interests of all parties for him to leave the company."

Following Boire's exit, its executive chairman Leonard Riggio has postponed his retirement until a later date.

The company will immediately begin searching for a new CEO.

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The latest announcement will not impact the company's previously announced strategic initiatives, and Riggio and other members of the executive management team will take up Boire’s duties and responsibilities.

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Barnes & Noble retails content, digital media and educational products. The company has around 640 bookstores across US and an e-commerce site.