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Best Buy founder and chairman quits

electronics

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#1 Hum

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Posted 07 June 2012 - 16:52

NEW YORK (CNNMoney) -- Best Buy Co. Inc. chairman and founder Richard Schulze resigned from the board of the electronics retailer Thursday.

Schulze, who served as the company's director for 36 years, controls roughly 20.1% percent of Best Buy (BBY, Fortune 500) shares. He said that he will step down immediately in order to explore options for his ownership stake.

"I continue to believe in Best Buy and its future -- and care deeply about its customers, employees and shareholders," he said. "There is an urgent need for Best Buy to reinvigorate growth by reconnecting with today's customers and building pathways to the next generation of consumers."

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#2 threetonesun

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Posted 07 June 2012 - 16:54

"I continue to believe in Best Buy and its future -- and care deeply about its customers, employees and shareholders," he said. "There is an urgent need for Best Buy to reinvigorate growth by reconnecting with today's customers and building pathways to the next generation of consumers."


If you run this through Google Translate, CEO -> English it comes back as, "so long and thanks for all the money"

#3 Miuku.

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Posted 07 June 2012 - 16:57

Considering he built the company from scratch, I'd say he's earned it.

Unlike a lot of jokes nowadays that inherit their fortune.

#4 TCohen4815

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Posted 07 June 2012 - 17:08

I give Best Buy two years until they are a thing of the past.