Barnes & Noble fires CEO Ronald Boire

(Reuters) - Barnes & Noble Inc said on Tuesday that Chief Executive Ronald Boire would leave the company as the board decided he was not a "good fit" for the bookstore chain operator.

Executive Chairman Leonard Riggio, who was scheduled to retire in September, will postpone his retirement to a later date, the company said.

The company said it would continue to work on its strategic initiatives, which includes winding down its Nook e-reader business and expanding its product catalogue to include hot-selling items such as adult colouring books, art supplies, music vinyls and toys.

Sales at Barnes & Noble have been falling for the past two years as Amazon.com Inc cuts into its customer base with a wider range of offerings at lower prices.

Amazon's Kindle tablets and rich reading content have eaten into demand for Barnes & Noble's Nook. Sales in the Nook business fell 20 percent in the fourth quarter ended April 30, as the company shut its Nook UK, app and video businesses.

Boire, who joined Barnes & Noble from Sears Canada, first became CEO of Barnes & Noble's retail division in September last year and then replaced Michael Huseby as CEO after the company spun off its college books business.

Riggio, along with other company executives, will assume Boire's duties.

Barnes & Noble said it would immediately begin to look for a new CEO.

(Reporting by Subrat Patnaik and Ankit Ajmera in Bengaluru; Editing by Maju Samuel)