Yesterday was the deadline for Best Buy founder Richard Schulze to convince the company’s board to consider his deal to buy the retailer back from shareholders, and according to reports, Best Buy will be moving on without Schulze, for now at least. [More]
With only days to go until company founder Richard Schulze makes his case to the board for buying the company back, Best Buy’s new-ish CEO Hubert Joly is moving full-steam-ahead with his plan to restructure the company, announcing that 400 employees will soon no longer be employees. [More]
Since stepping down as chairman of the board of Best Buy last year, company founder Richard Schulze has been trying to rally investors in an effort to buy the company back from shareholders. But a new report claims that Schulze is now considering a more modest plan. [More]
Following a year in which the nation’s largest electronics retailer saw both its CEO resign under the cloud of scandal, its founder step down in order to attempt to buy the company back, and three quarters of declining sales, news of merely flat holiday sales is good news for Best Buy. [More]
New Best Buy CEO Hubert “Don’t Call Me Q*bert” Joly is settling into his comfy new digs at the company’s HQ this week, but the former hotel & restaurant chain exec says he plans to jump into the Best Buy pool with both feet by finding out what it’s like to work for the retailer he now runs.
He begged, he pleaded, he wrote passionate letters asking for Best Buy to let him back in, and now it appears founder and former chairman Richard Schulze is finally getting his way. Or he’s at least going to be allowed to check out the information he needs to make a bid to buy the company.
The CEO-go-round at Best Buy continues to spin, as the electronics company announced this morning that it had chosen a successor to CEO Brian “These dishes are” Dunn, who left the company under a cloud of scandal — all while company founder Richard “Don’t call me Sergeant” Schulze moves forward with his bid to arrange a buy-back of the business.
Remember how Best Buy’s founder Richard Schulze was all about buying the company back? Well, it kinda seems like Best Buy is playing a bit hard to get, as Schulze had to write a letter to the board basically begging it to accept his proposal or at least to hand over the financial info he needs to put together an offer. And he sort of ends up sounding like a stalker who won’t let you break up with him.
Best Buy founder Richard Schulze shook things up the other day when he mentioned that he’d very much like to have his company back and out of the hands of shareholders. Since then, a few details of how Schulze plans to keep the ship afloat have surfaced, but will it be enough to remain competitive or is he just making matters worse for the company?
When Best Buy founder Richard Schulze stepped down as chairman in June earlier than everyone had expected after allegations he’d handled CEO Brian Dunn’s alleged involvement with an employee poorly, he said he would consider options for his 20.1% stake in the company, including the logical step of selling it off. Which is why he’s causing yet another mini-stir by reportedly very seriously considering buying back the company and taking it private.