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Borders Group CEO Ron Marshall Resigns After 1 Year

posted on 2010-01-27 02:49 EST

The Borders Group book and media store chain has announced on Tuesday that Chief Executive Officer Ron Marshall has resigned from the company. Marshall had held the position for one year. Borders said that Marshall resigned to take a position at another company, and ICv2 retail news source notes the speculation that he has moved to take the vacant CEO position at the supermarket chain Great Atlantic and Pacific Tea, Co.

Marshall's resignation comes just after Borders reported a 13.7 percent decline in sales over the 2009 holiday season.

By the end of February, the Waldenbooks chain of Borders should be down to 148 stores nationwide after closing approximately 200 stores in January, while 515 Borders superstores remain open.

Source: ICv2


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