News
Timothy A. Price
- August 12, 2023
Barnes & Noble Education has taken a proactive step towards exploring strategic alternatives. The education solutions company, based in Basking Ridge, N.J., recently announced the creation of a dedicated committee to lead this initiative. The committee comprises independent directors Steven Panagos and Raphael Wallander, as well as board member Rory Wallace.
The committee's primary responsibility is to evaluate and pursue strategic alternatives that align with the company's objectives. These alternatives aim to facilitate a "specific liquidity transaction," as outlined in Barnes & Noble Education's credit agreement.
To support their efforts, each member of the committee will receive a monthly cash compensation of $45,000.
Steven Panagos, with his extensive experience in advising on corporate transformations and turnarounds, has been serving as an independent director at various companies since June 2018.
Raphael Wallander, the Chief Executive of Maxwell Bay Advisors specializing in restructuring advising and independent director services, joined the committee based on his valuable expertise since 2018.
Barnes & Noble Education remains committed to seeking avenues that will enhance its strategic position and drive growth in the ever-evolving educational landscape.
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