Founder off Best Buy Resigns - Another one heads for the hils!

100th Monkey

New member
NEW YORK (CNNMoney) -- Best Buy Co. Inc. chairman and founder Richard Schulze resigned from the board of the electronics retailer Thursday.

Schulze, who served as the company's director for 36 years, controls roughly 20.1% percent of Best Buy (BBY, Fortune 500) shares. He said that he will step down immediately in order to explore options for his ownership stake.

"I continue to believe in Best Buy and its future -- and care deeply about its customers, employees and shareholders," he said. "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."

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They obviously know that there's no point in running a business in America anymore because something about to happen.