William Lynch has resigned from his position as Chief Executive Officer and Director of Barnes & Noble, the company announced Monday.

Barnes & Noble released a press statement, Monday announcing a few changes that have taken place in the company's Board of Directors. The company announced the resignation of William Lynch as Chief Executive Officer and Director of the company.

Lynch has been replaced by Michael P. Huseby, who was the Chief Financial Officer of the company. Max J. Roberts has been appointed the Chief Executive Officer of Barnes & Noble College division and will continue to lead the digital education strategy, while reporting to Huseby. Mitchell Klipper, the Chief Executive Officer of the Barnes & Noble Retail Group and Huseby will report to Leonard Riggio, Executive Chairman of Barnes & Noble, Inc.

"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+ ," said Riggio in the press release.

"As the bookselling industry continues to undergo significant transformation, we believe that Michael, Mitchell and Max are the right executives to lead us into the future."

"I appreciate the opportunity to serve as CEO of this terrific Company over the last three years," said William Lynch.  "There is a great executive team and Board in place at Barnes & Noble, and I look forward to the many innovations the Company will be bringing to its millions of physical and digital media customers in the future."

The company also revealed that Allen Lindstrom, Vice President and the Company's Corporate Controller, has been promoted to Chief Financial Officer of Barnes & Noble, Inc.  He will report to Huseby.  Kanuj Malhotra, Vice President of Corporate Development, has been promoted to Chief Financial Officer of NOOK Media LLC.