August 23, 2010 / 10:22 PM / in 8 years

Borders CFO resigns for new job

SAN FRANCISCO (Reuters) - Borders Group Inc BGP.N said on Monday that chief financial officer Mark Bierley had resigned to take another job, the latest personnel move to hit the brick-and-mortar bookseller, which is trying to turn around its business.

The company just named a new chief executive, Bennet LeBow, in June. The previous CEO, Ron Marshall, left the company in January to head supermarket chain Great Atlantic & Pacific Tea Co Inc GAP.N. In the interim, Mike Edwards had served as CEO.

Bierley, who was named chief operating officer in June, served with Borders for 12 years. He will be replaced on an interim basis by Glen Tomaszewski, a Borders vice president, while the company searches for a permanent CFO.

Borders has been working to lower debt and improve sales in the midst of widespread weakness for traditional book sellers as more consumers shift to digital books.

Last month, it launched its own e-bookstore to catch up to rivals such as Barnes & Noble Inc (BKS.N) and Amazon.com Inc (AMZN.O), whose Kindle is believed to be the top-selling e-reader.

Borders shares closed down 1.65 percent at $1.19 on the New York Stock Exchange.

Reporting by Alexandria Sage; editing by Andre Grenon

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