"We are an industry leader with 724 campus stores serving colleges and universities and more than 5 million students and their faculty across the country. As a separate public company, we believe we are well positioned to take advantage of future growth opportunities and enhance our services for our current and future customers." Following today's spinoff of College, Michael Huseby, former Chief Executive Officer of Barnes & Noble, Inc., became Executive Chairman of Barnes & Noble Education, which will have a separate Board of Directors. As previously announced, Ronald D. Boire will take over as Chief Executive Officer of Barnes & Noble, Inc. effective September 8, 2015. Under the terms of the separation, stockholders who held BKS common stock on July 27, 2015 (the "Record Date") received a distribution of 0.632 BNED common share for every one share of BKS common stock held as of the record date.