Best Buy founder Richard Schulze is exploring a private takeover of the electronics retail chain, according to a recent report. Schulze is the largest company shareholder with about a 20 percent stake in Best Buy. He has reportedly conducted discussions with Wall Street banks to determine the best strategy for a buyout but has met resistance from the company’s board of directors. Schulze founded the company in 1966 and over the years has served as CEO and chairman of the board.
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Banished Best Buy Founder Plots to Reclaim Throne
Posted by: Rachelle Dragani June 28, 2012 08:00 AMBest Buy founder Richard Schulze is exploring a private takeover of the electronics retail chain, according to a recent report. Schulze is the largest company shareholder with about a 20 percent stake in Best Buy. He has reportedly conducted discussions with Wall Street banks to determine the best strategy for a buyout but has met resistance from the company’s board of directors. Schulze founded the company in 1966 and over the years has served as CEO and chairman of the board.