Boire Gets $4.8 Million Release Payment From Barnes & Noble After Termination

Ex-Barnes & Noble CEO Ron Boire. under a termination agreement, will receive a release payment of $4.8 million, after his ouster Aug. 16, said an SEC filing. Under the agreement, Boire forfeited 368,098 shares of restricted stock granted on Sept. 8, 2015, and 143,540 restricted stock shares and performance-based shares granted July 14, said the filing. Barnes & Noble announced in August (see 1608170018) that the former Best Buy and Sony executive “was not a good fit for the organization.” The decision to let Boire go "was in the best interests of all parties," it said. Founder and Executive Chairman Leonard Riggio, scheduled to retire after the company’s annual meeting Sept. 14, postponed his retirement.