backtop


Print 22 comment(s) - last by KOOLTIME.. on Jun 13 at 2:03 PM


  (Source: laughingsquid.com)

Richard Schulze  (Source: msnbcmedia.msn.com)
He is also looking at possible options for his 20.1 percent stake in Best Buy

Best Buy’s chairman and founder has resigned one year ahead of schedule as the brick-and-mortar electronics store struggles to keep its head above water.
 
Richard Schulze, 71, chairman and founder of Best Buy, resigned from his position yesterday and it is effective immediately. He was originally scheduled to resign in June 2013, but has decided to leave ahead of time.
 
“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,” said Schulze. “Accordingly, I have shared my views with the board and today informed them of my decision to resign as Chairman and a director, effective immediately, in order to explore all available options for my ownership stake.”
 
At Best Buy’s annual meeting last month, the new succession plan was laid out for June 2013. It was announced that Schulze would be replaced by Hatim Tyabji as chairman, but the transition wasn’t supposed to take place until June 2013. It is unclear why Schulze resigned early.
 
Schulze’s resignation comes amidst an investigation into Best Buy’s former CEO Brian Dunn, who has been accused of misusing company funds while conducting a relationship with a female subordinate. Dunn resigned from CEO in April.
 
To make matters worse, Best Buy recently posted a $1.7 billion quarterly loss. Also, in late March, Best Buy said it would close 50 of its 1,100 retail stores in order to save $800 million.
 
Schulze will be looking into other options for his 20.1 percent stake in Best Buy.

Source: Yahoo



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Fantastic
By Reclaimer77 on 6/9/2012 11:31:58 AM , Rating: 2
Have you checked their online store recently? They are getting pretty competitive. Not on everything, but on some stuff I've noticed them beating Newegg.


RE: Fantastic
By inperfectdarkness on 6/11/2012 3:12:34 AM , Rating: 1
but their selection still sucks by comparison, and the brick & mortar experience is VERY much like the newegg.com adds indicate.

it's the same reason home depot's customer service took a nosedive; there's a lack of qualified expertise in the store. the average consumer goes to a store because they have questions about how one SSD differs from another in performance, and they end up with a sales rep who can only tell you the difference between an asus and an acer is the color of the case.

at home depot, micromanagement, clamps on store management's leeway to set wages, and other shiens are what resulted in a lot of former tradesmen (plumbers, electricians, etc) who worked at these stores in their retirement years--to leave. when a customer comes in and wants to know how to install recessed lighting & fish the appropriate cabling, previously the would get an expert to explain it to them. now a days they get a 19-year-old HS reject whose expertise on wiring extends to the crappy cardboard speaker box in his 1985 chevy caprice's trunk.


RE: Fantastic
By MrBlastman on 6/11/2012 11:14:31 AM , Rating: 2
quote:
at home depot, micromanagement, clamps on store management's leeway to set wages, and other shiens are what resulted in a lot of former tradesmen (plumbers, electricians, etc) who worked at these stores in their retirement years--to leave. when a customer comes in and wants to know how to install recessed lighting & fish the appropriate cabling, previously the would get an expert to explain it to them. now a days they get a 19-year-old HS reject whose expertise on wiring extends to the crappy cardboard speaker box in his 1985 chevy caprice's trunk.


That might be where you live but not where I do. Ever since that prick Nardelli was forced out with a 200 million parachute (scumbag), Home Depot has turned itself around at least in my area. I never have a problem finding someone to tell me how to do something where before, just asking for help felt like I was bothering someone.


RE: Fantastic
By inperfectdarkness on 6/12/2012 3:16:01 AM , Rating: 2
yes, there has been a shift back to the way things were. it WAS nardelli's fault--no doubt about that.

amazing what can be accomplished when the focus is on knowledgable service, not the company's bottom line.


"The Space Elevator will be built about 50 years after everyone stops laughing" -- Sir Arthur C. Clarke














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki