Best Buy founder chairman steps down after investigation

Yet more fallout in the case of Best Buy CEO Brian Dunn's sudden resignation last month. Some more light has been shed on those aforementioned "certain issues" we heard about, and now an internal investigation has led to the exit of the big box retailer's founder Richard Schulze as chairman of the board. Schulze will be replaced by Hatim Tyabji, who has served as the CEO of Bytemobile and as chairman of the Best Buy's audit committee. The transfer will occur after the company's annual meeting on June 21, 2012. Tyabji had the following to say about Schulze's tenure with the company,

Dick's leadership and vision changed the landscape of American retail, and he will forever be remembered as an iconic entrepreneur. We join Best Buy's 167,000 employees in thanking him.

More details on Schulze's exit can be found in an official Best Buy statement after the break.

Continue reading Best Buy founder / chairman steps down after investigation

Best Buy founder / chairman steps down after investigation originally appeared on Engadget on Mon, 14 May 2012 12:40:00 EDT. Please see our terms for use of feeds.