Barnes & Noble has made some changes in its upper management ranks, appointing Larry Zilavy executive v-p of corporate finance and strategic planning and naming Joseph Lombardi to Zilavy's former position as chief financial officer. Lombardi, who will report to Mitch Klipper, B&N's chief operating officer, had been v-p and controller.
In his new position, Zilavy will be responsible for all corporate finance functions, including acquisitions, and will oversee B&N's public investments, including Barnes & Noble.com and GameStop. In addition, Zilavy, along with B&N CEO Steve Riggio, will monitor the company's publishing investments, which include Sterling Publishing and iUniverse. Zilavy, who will report to B&N chairman Len Riggio, will also assist Riggio with corporate governance on the B&N, B&N.com and GameStop boards.
Zilavy told PW that his new role expands the functions that had been performed by Maureen O'Connell before she resigned last year to join Gartner Inc. He noted that B&N's push into publishing along with its other investments has produced a need for more strategic oversight. Zilavy will serve as a corporate point man, helping to leverage all of B&N's assets.
In some notes from B&N's year-end filing with the Securities and Exchange Commission, the company reported that it bought books from more than 1,700 publishers and 45 wholesalers in 2002. The top five suppliers accounted for approximately 44% of books purchased last year, and no supplier accounted for more than 15% of its purchases.
