Content about Richard M. Schulze

March 25, 2013

Best Buy founder, Richard Schulze, is returning to Best Buy as its chairman Emeritus.

MINNEAPOLIS — Best Buy founder, Richard Schulze, is returning to Best Buy as its chairman Emeritus. In addition, Schulze has nominated Brad Anderson and Al Lenzmeier to serve on the Best Buy Board of Directors, pursuant to a previously disclosed agreement between the company and Schulze.

Schulze had resigned from the company last June over the scandal involving from CEO Brian Dunn. He then made several failed attempts to take Best Buy private.

Schulze expressed support for Best Buy's current chief, Hubert Joly.

December 17, 2012

February 2013 promises to be an interesting month at Best Buy following the retailer’s decision to extend the timeframe for company founder and former chairman Richard Schulze to submit a potential buyout offer.

February 2013 promises to be an interesting month at Best Buy following the retailer’s decision to extend the timeframe for company founder and former chairman Richard Schulze to submit a potential buyout offer.

Schulze will have the entire month of February to present an offer and then the board will review the offer within 30 days to determine if it is in the best interests of shareholders.

December 13, 2012

Former Best Buy chairman Richard Schulze is reportedly close to reaching an agreement to buy the company he founded, according to a Minneapolis Star Tribune report citing a source close to the situation.

Former Best Buy chairman Richard Schulze is reportedly close to reaching an agreement to buy the company he founded, according to a Minneapolis Star Tribune report citing a source close to the situation.

August 27, 2012

Richard Schulze has moved one step closer to achieving his goal of acquiring Best Buy.

MINNEAPOLIS — Richard Schulze has moved one step closer to achieving his goal of acquiring Best Buy. The company has agreed to let its founder and former chairman access to certain due diligence information and form an invesment group so that he may continue his efforts to attempt to buy the company.

August 20, 2012

Hubert Joly is the new CEO at Best Buy.

Hubert Joly is the new CEO at Best Buy.

Best Buy named former food service and hospitality executive Hubert Joly as president and CEO even as uncertainty lingers regarding a possible leveraged buyout engineered by former chairman and founder Richard Schulze.

Joly joins Best Buy after serving since 2008 as CEO of Minneapolis-based Carlson, a global hospitality and travel company known for such brands as Radisson hotels and TGI Friday’s restaurants. From 2003 to 2007, he led Carlson’s travel division.

August 16, 2012

Best Buy co-founder Richard Schulze said Thursday that he is staying the course on his plan to acquire the company and take it private, adding that he has heard from a lineup of private equity firms prepared to make "significant commitments."

MINNEAPOLIS — Best Buy co-founder Richard Schulze said Thursday that he is staying the course on his plan to acquire the company and take it private, adding that he has heard from a lineup of private equity firms prepared to make "significant commitments."

In a letter to the Best Buy board, Schulze indicated that he'd like to create a group and put forth a fully financed plan.

August 6, 2012

Best Buy founder and former chairman Richard Schulze on Monday offered to buy the struggling retailer and take it private for as much as $8.8 billion.

MINNEAPOLIS — Best Buy founder and former chairman Richard Schulze on Monday offered to buy the struggling retailer and take it private for as much as $8.8 billion. Schulze said he would offer Best Buy shareholders between $24 and $26 for each of their shares in the chain, according to a letter sent to the board that he made public.

July 2, 2012

Best Buy’s founder and former chairman Richard Schulze is not expected to present a buyout or other proposal to the company's board anytime soon, Reuters reported, citing a person familiar to the situation.

New York -- Best Buy’s founder and former chairman Richard Schulze is not expected to present a buyout or other proposal to the company's board anytime soon, Reuters reported, citing a person familiar to the situation.

Schulze owns more than 20% of the company’s shares. He abruptly resigned from the Best Buy board last June and said he was exploring options for his ownership stake. The company’s shares have risen lately on speculation that Schulze close to presenting a buyout offer.

June 7, 2012

Best Buy founder Richard Schulze has decided to step down as chairman of the board in order to pursue other options for his ownership stake.

MINNEAPOLIS — Best Buy founder Richard Schulze has decided to step down as chairman of the board in order to pursue other options for his ownership stake.

May 14, 2012

A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.