Barnes & Noble's Fired-CEO Secret is Unusual.

• Position: BOARDBOOK

Will the company's lack of transparency set a precedent for other boards or will it come back to haunt the bookseller's directors?

The government report by Barnes & Noble Inc. about the termination of the company's CEO Demos Parneros, filed on the eve of the Independence Day holiday, was lacking key details about why he was getting the boot:

Mr. Parneros' termination is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto. Mr. Parneros will not receive any severance payment and he is no longer a member of the Company's...