By Eve Tahmincioglu
The government report by Barnes & Noble Inc. about the termination of the company’s CEO Demos Parneros, filed on the eve of the Independence Day holiday, was short and lacking key details about why he was getting the boot:
Mr. Parneros’ termination is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto. Mr. Parneros will not receive any severance payment and he is no longer a member of the Company’s Board of Directors.
In light of long string of scandals involving top executives at companies — including Intel, Wyndham, Priceline, etc. — where the bad behavior was made public, Barnes & Noble’s lack of transparency is atypical, say governance and communications experts.
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