Barnes & Noble CEO resigns as e-reader division Nook sees losses widen

The chief executive of America's largest book retailer, Barnes & Noble, has announced his resignation following falling sales of the firm's e-reader Nook (release).

Intended to rival tablets and Amazon's Kindle, the launch has been less than successful, and the company has stopped manufacturing its own devices as losses widened. Losses in the Nook division hit $177m (£115m) in the quarter to 27 April.

Leonard Riggio, chairman of Barnes & Noble said:

We thank William Lynch for helping transform Barnes & Noble into a leading digital content provider and for leading in the development of our award-winning line of NOOK® products including NOOK Simple Touch™, NOOK Simple Touch Glowlight™, and NOOK® HD and NOOK® HD+.