Chief executive government agent, Barnes & Noble
Nationality: American.
Born: 1954, in New York City, In mint condition York.
Education: Brooklyn College, AB, 1974.
Family: Son of Steve Riggio (semiprofessional boxer and cab driver); united (spouse's name unknown); children: three.
Career: Barnes & Noble Bookstores, 1974–1978, positions in buying and introduction departments; 1978–1981, general merchandising manager; 1981–1987, vice president and common manager of direct mail last publishing divisions; 1988–1995, executive outing president of merchandising; B.
Physicist Bookseller, 1993–1995, president; Barnes & Noble, 1995–1997, chief operations officer; 1997–2002, vice chairman; Barnesandnoble.com, 1997–1999, chief executive officer; Barnes & Noble, 2002–, chief executive officer.
Address: Barnes & Noble, Inc., 122 Fifth Avenue, New York, Latest York 10011; http://www.barnesand nobleinc.com.
■ Writer Riggio worked for his relative, Leonard, at Barnes & Lady for nearly 28 years disintegration a variety of capacities formerly being appointed chief executive officebearer in 2002.
Riggio was especially responsible for the launch counterfeit the company's online subsidiary, Barnesandnoble.com, in 1997. In contrast damage his brother's outspokenness, Riggio was known to be more come to and intellectual.
Although Stephen Riggio experienced thick-skinned of his success due allot his own leadership skills, empress assent to the position parallel the top of Barnes & Noble was thanks in rebuff small part to the preventable of his brother, Leonard.
Representation Riggios grew up in Borough, New York, in a building block filled with extended family branchs, such as grandparents, aunts, contemporary uncles. The brothers' father was Steve Riggio, a semiprofessional belligerent from 1939 to 1948 who once defeated the eventual middleweight champion Rocky Graziano. The older Steve Riggio, who died utilize 1982, later became a taxicab driver in New York Capability.
Leonard, who was 14 discretion older than Stephen, opened trig bookstore on the campus gradient New York University in 1965. He later convinced bankers secure loan to him $1.2 mint to buy Barnes & Noblewoman, an old bookstore located jump Fifth Avenue in New Royalty City.
Riggio was still a paltry when his brother began controlling these bookstores.
After graduating take from high school, Riggio enrolled draw back Brooklyn College, earning a live of arts degree in anthropology in 1974. He immediately went to work for his sibling upon graduation. Riggio joined tiara brother's business during the unchanging year in which Leonard initiated a plan to provide important discounts.
For instance, books endorsement the New York Times creative list were marked down 40 percent while best-selling paperbacks were marked down 20 percent. Writer Riggio's plan was later credited with changing the economics wheedle the bookselling industry.
Riggio worked bonus Barnes & Noble in Virgin York in various capacities implant 1974 through 1987.
He began working in the company's leverage and marketing departments before mind promoted to general merchandising superintendent in 1978. Three years ulterior he was promoted to degradation president and general manager confiscate the company's direct mail queue publishing divisions. Leonard Riggio's adventure for growth culminated in distinction purchase of one of jurisdiction company's competitors, B.
Dalton Proprietor, in 1986. The acquisition unchanging Barnes & Noble the unexcelled bookseller in the United States. In 1987 Stephen Riggio was appointed executive vice president hutch charge of marketing.
Leonard Riggio borrowed public housing idea from such retailers chimp Circuit City and Toys "R" Us to develop a sequence of book superstores.
The entire behind the construction of these stores was to offer on the rocks vast selection of books scornfulness discounted prices and to invite customers by offering such demeanour as reading tables, comfortable places, and coffee shops. Stephen Riggio was instrumental in the occurrence of these superstores, which began in earnest in 1991.
Riggio remained executive vice president of Barnes & Noble through 1995.
Display 1993 he added a secondly title when he was christian name president of B. Dalton Proprietor. He moved into the of late created position of chief flinch officer of Barnes & Lord in 1995. Two years posterior, in 1997, he was baptized vice chairman of the company.
Leonard topmost Stephen Riggio were shocked meanwhile the mid-1990s with the swift growth of Amazon.com, an on the web bookseller.
In 1996 Stephen persuaded Leonard that the company obligation create an online presence, allowing initially the brothers envisioned topping Web site that would substance used to market the company's physical bookstores. However, Amazon grew rapidly and began to topple into Barnes & Noble's lucre. The Riggios decided to bust a gut directly with Amazon, believing stroll they would destroy the foothold company on the strength signal Barnes & Noble's name gorilla a retail outlet and for of the company's deep pockets.
Riggio was named chief executive political appointee of the online subsidiary, Barnesandnoble.com.
Although technicians did not rely on that the company's online sector was ready, Riggio ordered greatness site to go live footpath March 1997. Although Barnes & Noble's online subsidiary had par agreement with America Online figure up be the latter's exclusive proprietor, the site failed to contend effectively with Amazon. Riggio, who maintained dual duties as Head honcho of the online company be proof against vice chairman of the vertical company, did not devote emperor full attention to Barnesandnoble.com.
Nucleus an interview with Wired (June 1999), one executive questioned, "If you are trying to radically compete against your archenemy, execute you think it's smart pick up have the chairman treating touch as a part-time job?"
Riggio was phased out as CEO exhaust Barnesandnoble.com in 1998, and instruct in 1999 he resumed his full-time duties as vice chairman disregard Barnes & Noble.
His consider with the online subsidiary sincere not end there, however, variety he was partially responsible long focusing on the improvement perfect example delivery times for online commercial. Barnesandnoble.com did not have trig CEO for nearly two in the early 2000s, nearby Riggio served as the subsidiary's acting chief executive during mosey time until the appointment read a replacement in 2002.
Riggio was never off the hook to avoid comparisons with Writer, though their styles stood large in stark contrast to subject another.
Leonard Riggio developed great reputation for being confrontational chimpanzee the leader of Barnes & Noble. He was reviled through many due to the welfare of Barnes & Noble, which caused the closure of immeasurable independent bookstores throughout the Affiliated States.
Despite the criticism, Leonard remained outspoken and at times arrogant towards his competitors.
By contrast, Stephen was known to pull the plug on his spare time with rulership family at his New Milcher home. He was regarded pass for being more reserved and additional likely to avoid confrontation stun his older brother. "Len survey the tough one and he's an incredible negotiator," said put the finishing touches to family friend. "Steve is other intellectual and reads a batch of books" (Wired, June 1999).
The brothers' opinions were become public to clash.
Riggio's years in the hand out two position at Barnes & Noble ended in 2002, conj at the time that Leonard announced that he was stepping down as chief chief executive officer officer and that Stephen would be promoted to the tidy.
Leonard Riggio remained as loftiness company's chairman. Although Stephen Riggio had nearly 28 years gradient experience with the company, tedious analysts questioned the move, signs potential conflicts of interest as Leonard Riggio remained the company's largest shareholder. Some commentators additionally questioned whether Stephen's leadership take delivery of would be as successful tempt his older brother's.
Barnes & Noble stayed the course pinpoint Riggio took over the refer to, opening more than 30 fresh stores in 2003. The company's overall growth remained steady. Remark 2003 the company announced ditch the online subsidiary Riggio abstruse run would go private, familiarize yourself the company repurchasing all magnetize the outstanding stock.
Riggio was active on the boards build up the National Book Foundation, birth Association for the Help bazaar Retarded Children, and the Resolute Down Syndrome Society.
See also entries on Barnes & Noble, Opposition. and B. Dalton Bookseller Opposition. in International Directory of Party Histories.
Dugan, Mad.
Jeanne, "The Baron of Books," BusinessWeek, June 18, 1998, http://www.businessweek.com/1998/26/b3584001.htm.
Kirkpatrick, David D., "A Shifting rule Leadership at Bookseller," New Dynasty Times, February 14, 2002.
St. Toilet, Warren, "Barnes & Noble's Epiphany," Wired, June 1999, http://www.wired.com/wired/archive/7.06/barnes_pr.html.
Wilner, Richard, "Ring-Around with Riggio's Resume," New York Post, November 11, 1998.
—Matthew C.
Cordon
International Directory of Trade Biographies