Best Buy Store Closing

Best Buy founder, chairman and director Richard Schulze resigned from the big box retailer on Thursday. The news follows the April announcement that Best Buy's CEO Brian Dunn was stepping down following a scandal. "I continue to believe in Best Buy and its future—and care deeply about its customers, employees and shareholders," Schulze told The Wall Street Journal. "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." Hatim A. Tyabji will take the role of Best Buy's chairman, effective immediately, the company said. Schulze was originally scheduled to remain a director through June of next year. "An internal probe found Mr. Schulze didn't alert other directors that Mr. Dunn was allegedly having an inappropriate relationship with the female employee," The Wall Street Journal explained

[via The Wall Street Journal]