Barnes & Noble Grabs CFO From Cablevision

It was revealed on Monday that Barnes & Noble BKS has hired former Cablevision CVC CFO Michael Huseby as the new CFO. The 57-year-old Huseby will replace Allen Lindstrom, who had been holding the role on an interim basis. Prior to that, Joseph Lombardi had announced in October that he was leaving the company after a nine-year stint. Lombardi did say that he will be staying on for the transition. Huseby's resume is impressive. He was executive vice president and CFO at Cablevision from 2004 to 2011. Prior to that, he was CFO at another cable company, Charter Communications. BKS has brought Huseby in as it deals with tough competition and changing book-reading habits, now focusing on its e-book reader the Nook. The numbers haven't been kind to BKS of late, with net income falling 14% in the third quarter, as rising costs offset a 5% revenue increase to $2.44 billion. On Monday morning, BKS shares fell 4 cents to $13.35. Over the past year, they have traded in a 52-week range of $8.45 to $21.06.