B&N's New Board Member Recommended by Schottenfeld

Barnes & Noble has appointed Irwin D. Simon, founder, president, CEO and chairman of the Hain Celestial Group, to its board of directors. Simon, who will serve as an independent board member, was recommended by Richard Schottenfeld, the investor who has increased his stake in B&N to at least 6.9%. He has met with chairman Len Riggio and is advocating changes at the executive and board level, operational improvements and "the desirability of selling the company."

An organic foods and personal care products company, Hain Celestial Group is best known for its Celestial Seasonings herbal tea. It also owns Arrowhead Mills, which sells whole grain foods, and FreeBird chickens.

Simon might also have been recommended by Schottenfeld because of the example he is setting as a company founder and longtime head who is slowly handing over control of the company: Simon announced in June that he would step down as CEO and become non-executive chairman when a new CEO is appointed.

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