William Lynch

A bitter proxy fight climaxed at Tuesday's shareholder meeting. In the end, B&N Chairman Len Riggio's defeat of dissident shareholder Ron Burkle was more fait accompli than 11th-hour surprise. And it left lots of questions unanswered.

Thursday morning's announcement that Steve Riggio would step down as Barnes & Noble's CEO seemed unexpected -- at first. But his replacement is looking into the company's digital future, without overlooking its secret weapon: bricks-and-mortar stores.