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Best Buy founder building executive team ahead of buyout

Updated Dec 19th, 2018 8:31PM EST
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Best Buy (BBY) founder Richard Schulze plans to take the massive nationwide retailer private once again, and he is reportedly recruiting a team of executives to help revitalize the company if his effort is successful. An earlier report from June revealed Schulze’s intentions, suggesting that the former board chairman was planning a buyout to turn the struggling retailer’s business around and prevent his stake in the company, which currently sits at 20%, from losing more value. Now, Bloomberg adds on to the report, citing a senior Best Buy executive in stating that Schulze is building a new executive team that will be put in place if his buyout succeeds. “He is talking to people he trusts,” J.D. Wilson, SVP of enterprise capabilities, told Bloomberg. “There is a small group he’d like to have with him in righting the ship. He is serious as a heart attack.”

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Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.

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