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Demos Parneros Bio, Net Worth, Birthday & Age
Who is Demos Parneros?
The American Cypriot demos Parneros was named CEO of Barnes & Noble, Fortune 500, the largest seller of retail books in the country, and one of the leading retailers of content, digital media and educational products.
The company operates 634 Barnes & Noble Bookstores in 50 states (on January 28, 2017) and one of the top ecommerce Web sites, the BN.com. The Nook Digital Business offers a line of Nook ® ‘s popular tablets and Ereaders and a large collection of digital reading content through the Nook Store ®, as noted on the company’s website.
Parneros served as Director of operations at Barnes & Noble from November 2016. In this role, he was responsible for all aspects of the company’s operations, including stores, merchandising, ecommerce, systems and real estate.
According to his biography, Parneros was formerly president of Staples, Inc. ‘s North American stores & Online, and has 30 years of leadership experience in all aspects of retail management, including operations, human resources, merchandising, E-commerce, marketing and real estate.
He began his career at Staples as general manager of his first store in New York city in 1987 and climbed the ranks through multiple management positions, including SVP Mid-Atlantic operations; President, US stores; President, US Retail; and president, North American stores & online, where he was responsible for a team of 50,000 associates, through 1,800 stores and online businesses of staples.
Graduated from the University of New York, with a bachelor’s degree in administration and the Advanced Management Program at Harvard Business School, Parneros now leads to Barnes & Noble.
As reported in the New York Times, Parneros, 55 years old, it assumes only eight months after the chain of bookstores expelled its CEO, Ronald Boire, “terminating a brief and tumultuous possession.”
The board members decided that Boire “was not a good option for the company” and since then he was dismissed in August 2016, the executive president, Leonard Riggo, who bought the company in 1971 and transformed the business into a national network. He served as CEO, postponing his retirement, as the Times reported.
Parneros is taking over the business in difficult times. The company is still trying to compete with Amazon and recover from the losses of the digital business of Nook. As the Times noted, “despite some encouraging signs that the market for physical bookstores has stabilized, Barnes & Noble has been struggling to reverse sales and revenue drop.”
In March, a third-quarter earnings report showed an 8% drop in sales, to US $1.3 billion compared to last year. Content sales and digital devices fell 26% to US $38.4 million, and the number of stores also fell to the new York bookseller. In 2010, there were 720 stores and now 634 stores after 7 stores were closed.
“The biggest challenge is sales performance; This is no secret “, said Parneros, ” We need to figure out ways to change things a bit and increase traffic, “as the Times reported.
Their optimism remains high on other aspects, including customer loyalty and the possibility of increasing sales and traffic through more expansion in games, toys and educational gifts.
Parneros is also enthusiastic about the new conceptual stores that can attract customers with an upgraded look to the Barnes & Noble stores. Three have already opened in California, new York and Minnesota, with two more planned for Virginia and Texas. The shops are bright and elegant, with full-service restaurants serving beer and wine.
Competition from independent bookstores has been increasing in recent years as well. The number of stores arrives at 1,775 stores in 2016, from 1,410 in 2010, according to the American Booksellers Association, as published by the Times. Amazon is also looking at the physical retail, opening 6 stores with 6 other open this year across the country.
Although Parneros has little experience in book sales, he said he took a crash course recently, as the Times reported.
Parneros was born in Cyprus and moved to new York when he was in elementary school. He didn’t speak English at the time, like many young immigrants. He finally attended the University of New York and joined Staples, assuming the president of Staples North American stores and online, supervising 1,800 stores and their business on the web, as the Times reported.
Prior to joining Barnes & Noble in November, Parneros supposedly visited many stores in the US “to get an idea of the company,” the Times noted. During his time as COO, he told the Times that he spent a lot of time with Mr. Riggo, who will remain as president of the company.
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