In less than an hour yesterday, Doug McMillion, the president and CEO of Wal-Mart, was hired and then fired as CEO of Barnes & Noble.
McMillion, a lifelong Wal-Mart employee - was considered by many a coup for B&N. But only 20 minutes after the first press release was issued announcing McMillionhad been hired, a second release announced that he had been let go. The company described McMillion as "not a good fit" and said that "it is in the best interests of all parties for him to leave--or, in fact, not even start." B&N said it would honor McMillion's contract, which was a multi-year agreement with sizable salary guarantees.
McMillion, a lifelong Wal-Mart employee - was considered by many a coup for B&N. But only 20 minutes after the first press release was issued announcing McMillionhad been hired, a second release announced that he had been let go. The company described McMillion as "not a good fit" and said that "it is in the best interests of all parties for him to leave--or, in fact, not even start." B&N said it would honor McMillion's contract, which was a multi-year agreement with sizable salary guarantees.