Best Buy PR : Founder Richard Schulze Returns to Best Buy as Chairman Emeritus
in Support of the Company's Renew Blue Transformation Efforts
MINNEAPOLIS, March 25, 2013 -- Best Buy and its Founder, Richard Schulze,
announced today that Mr. Schulze is returning to the company as its Chairman
Emeritus. In addition, Mr. 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 Mr. Schulze.
"Over the past several months, I have come to know and respect Hubert, and
have a high regard for the work he and his executive team are doing to
revitalize Best Buy for the benefit of all stakeholders," said Schulze. "My
dedication to the company that I founded and love is unwavering and, together
with Hubert and the Board, I determined that the best way to support Best Buy
would be to return in support of the initiatives underway."
"At the same time, it is a great privilege to nominate to the Board two
long-time colleagues, Brad Anderson and Al Lenzmeier, who helped build Best
Buy into what it is today and will continue adding great value in their new
role," Schulze added.
"The Board has full confidence in Hubert and the management team, and is
entirely supportive of the company's Renew Blue transformation efforts," said
Hatim Tyabji, chairman of the Best Buy Board of Directors. "My fellow Board
members and I are pleased to welcome Dick back to the company as Chairman
Emeritus and are confident that the role he will play in support of the
management team can only accelerate the progress that Best Buy has already
"I am delighted our Founder, Dick Schulze, is returning to the company as its
Chairman Emeritus. His passion, wisdom and insight are legendary, and I know I
speak for all my colleagues when I say it was wonderful to see him come to our
headquarters recently and engage with employees as he and I walked the halls,"
said Joly. "I look forward to his engagement as we move forward. I am also
delighted to have Brad and Al join our Board and to have the company benefit
from their experience and wisdom."
Mr. Anderson and Mr. Lenzmeier join the Best Buy Board of Directors, effective
immediately. They will stand for election at the company's annual shareholder
meeting in June 2013.
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information contained therein.
Source: Best Buy PR via Thomson Reuters ONE
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