Best Buy Chairman Resigns after Probe Finds He Withheld Information
May 15, 2012 9:29 AM
comment(s) - last by
Another one bites the dust...
Best Buy is seeing sales slump as more and more people go online to purchase items at lower prices. Many consumers are now using retail stores such as Best Buy as places to go in to see and touch products that they then order online. Best Buy has also recently been hit with high-profile scandals involving high-ranking executives within the company.
Best Buy CEO Brian Dunn
last month, with the company citing “personal conduct” as the reason for his departure. That personal conduct was an inappropriate relationship with a female employee. That relationship has now cost another high-ranking Best Buy executive his position as Best Buy co-founder Richard Schulze has resigned from his position as chairman effective June 2012.
Schulze will leave the company in the wake of the board-supervised investigation into ex-CEO Dunn's inappropriate relationship with a 29-year-old subordinate.
The investigation found that Dunn had engaged in an "extremely close personal relationship" with the female worker that negatively impacted the work environment. The allegations of an inappropriate relationship within the workplace came to light in December of 2011 when the chairman was provided with a written statement from another employee about Dunn's relationship.
What cost Schulze his job was the fact that he didn't pass that information on to the board's audit committee. The audit committee is in charge of any ethical transgressions within the company. According to the report, Schulze confronted Dunn about the relationship and Dunn denied the allegations.
"I understand and accept the findings of the audit committee," Mr. Schulze, 71, said in a statement released by the company.
Schulze is being replaced as chairman by Hatim Tyabji, CEO of Bytemobile.
Wall Street Journal
This article is over a month old, voting and posting comments is disabled
RE: You reap what you friggin sow...
5/15/2012 12:34:13 PM
Some people do not have a computer/tech expert in the family to rely on. I do not mind good salesmanship, but I do have a problem with outright lying to people to scare them into buying overpriced products and warranties-SOP at Best Buy
RE: You reap what you friggin sow...
5/15/2012 3:44:01 PM
I think what ultimately was said is that people should be born with the knowledge that he thinks they should already have. Families with tech illiterate degenerates like the millions of consumers out there should be killed off to preserve the likes of his kind. Reclaimer, I know for sure, agrees with his statement...oh wait, he already did :)
Time to go grocery shopping! Oh sht, those prices don't look right either and those steaks...looks colored. Damn, am I a organic degenerate now? Jesus Christ there's no end to this kind of thinking!!!!
"If you mod me down, I will become more insightful than you can possibly imagine." -- Slashdot
UPDATED: Best Buy CEO Resigns, Company Now Citing "Personal Conduct" for Departure
April 10, 2012, 1:02 PM
Report: AT&T Eyeing $40B DirecTV Purchase
May 1, 2014, 8:00 AM
WebOS Class Action Settlement Costs HP $57 Million
April 1, 2014, 10:22 AM
IBM Workers Strike Over Terms of Deal That Will Have Them Working for Lenovo
March 6, 2014, 9:29 AM
Google Picking Up Artificial Intelligence Company "DeepMind" for $400 Million
January 27, 2014, 9:25 AM
Quick Note: Qualcomm Grabs up Palm, IPAQ, and Bitfone Patent Portfolio from HP
January 24, 2014, 9:18 AM
Verizon Buys Intel Media OnCue Cloud TV assets
January 21, 2014, 10:26 AM
Most Popular Articles
Chinese Government Declares Digital War Against America's Top Tech Firms
October 20, 2014, 12:07 PM
Samsung Announces Galaxy S5 Plus with Snapdragon 805 Processor, LTE-A
October 22, 2014, 3:40 PM
Windows 8.1 + Android "Sell Mini PC" w/ Bay Trail Creates New PC Form Factor
October 20, 2014, 5:07 PM
Apple's iPad Air 2 Features Triple-core A8X Processor, 2GB of RAM
October 21, 2014, 8:32 PM
Apple Releases iOS 8.1; Adds Apple Pay Support, SMS Relay, Instant Hotspot
October 20, 2014, 1:00 PM
Latest Blog Posts
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information