With Layoffs Looming, Borders CEO Ron Marshall Exits

After just a year on the job, Borders (BGP) CEO Ron Marshall is leaving the company to become CEO of the supermarket chain A&P, according to The Wall Street Journal. The news comes just one day after the book retailer posted dismal holiday earnings, a few days after fending off reports that it was delaying payments to small publishers, and with up to 15% of Borders' workforce facing layoffs later this week.