The Twin Cities-based retailer has had two executives sharing the presidency. Now Mike Vitelli will oversee U.S. operations, while Shari Ballard will lead Best Buy International.
Armed man robs Twin Cities thrift store, flees in carjacked pickup
He pulled out a handgun shortly after chatting with the cashier about his scarf.
Gallery: Pagoda-inspired home on Lake Pepin for sale for $2M
The home has 425 feet of private shoreline on the Mississippi River.
Walz proposes legalizing marijuana in massive supplemental budget
It's among the provisions in his "Budget to Move Minnesota Forward."
Photos reveal damage from gunshots to Minneapolis snowplow
A hydraulic line and three tires were damaged in the shooting.
Minneapolis schools confirm return to in-person teaching Monday
The school district shifted to online learning almost two weeks ago as rising COVID cases led to staff and bus driver shortages.
Mineral leases for proposed Twin Metals mine near Boundary Waters canceled
A review by the DOI found "significant legal deficiencies" with the leases' 2019 renewal.
Reward to find person who left kittens to die in freezing WI cold
The cats were thrown from a vehicle, according to a witness.
Charges: Man led police on multi-city pursuit in stolen Metro Mobility bus
The bus had been left unattended with the keys inside when it was stolen.
Charges: Man fatally shot mother of his child during argument
Officers found her on the ground outside the couple's home.
Minnesota's COVID-19 update for Wednesday, January 26
More than 15,000 new cases in today's update.
List of the coldest wind chills in Minnesota Wednesday morning
The wind chill was as low at -38F in St. Paul.
Best Buy warns sales will be down in Q3, pair of executives plan to exit
Best Buy has announced a new leadership organization for its U.S. operations, including the departure of Mike Vitelli, president of Best Buy's U.S. business, according to a news release. He who will retire in February. Executive Vice President of U.S. Operations Tim Sheehan will also leave the Richfield-based retailer at the end of October. Best Buy also gave a dismal preview of its third-quarter figures.
Best Buy vows to improve, touts turnaround plan
Interim CEO Mike Mikan told shareholders and employees, gathered at Best Buy's annual meeting Thursday, the company is committed to changing in fundamental ways. The Richfield-based electronics retail giant plans to provide new employee training for better customer service, reduce its retail footprint and tackle trends like "showrooming" that are hurting the retailer's sales. Best Buy is also recovering from three months of internal drama, including the abrupt resignation of its founder and largest share holder Richard Schulze. He was not seen at Thursday's meeting.
Best Buy selects CEO search committee
Four board members will lead the global search for a new chief executive officer at the Richfield-based electronics retailer. Brian Dunn resigned from the leadership position amid an investigation into his personal conduct. Interim CEO Mike Mikan is considered a candidate to permanently replace Dunn. Best Buy expects the search process to take six to nine months.
Best Buy's new online leader touts plan to overhaul e-commerce business
Scott Durchslag is officially in charge of overseeing Best Buy's online and mobile business. Last week, he was hired as the senior vice president and president Online and Global e-Commerce at the Richfield-based company. The former Expedia executive tells Business Insider that BestBuy.com has to keep up with competitors, operate as seamlessly as possible and add layers of innovation in social realms.
Report: Best Buy founder Schulze recruiting executives for buyout
Best Buy founder Richard Schulze has been recruiting executives to help lead the retailer if his attempt to take the company private is successful, according to a senior Best Buy executive, Bloomberg reports. “He is talking to people he trusts,” J.D. Wilson, senior vice president of enterprise capabilities, said in an interview. “There is a small group he’d like to have with him in righting the ship. He is serious as a heart attack.”
Best Buy chief marketing officer resigns
Barry Judge is the third executive to depart the Richfield-based electronics retailer this year. Former Starbucks executive Stephen Gillett is expected to take over his role. The Pioneer Press reports the resignation is not related to former CEO Brian Dunn, who stepped down in April amid an internal investigation. Geek Squad founder Robert Stephens also left Best Buy in March.
Best Buy CEO: We'll rise despite upheaval
After a series of bombshells that have shaken the company, Best Buy's interim CEO is trying to reassure employees that the electronics retail giant will rebound and rise again. "This has undoubtedly been the most difficult period in Best Buy's history," G. Mike Mikan said in a video message to employees Tuesday, the Pioneer Press reports.
Best Buy founder offers $26 a share to buy retailer
Best Buy Co. founder Richard Schulze, who stepped down as chairman this year, has offered to take the electronics retailer private at $24 to $26 a share, Bloomberg reports. Credit Suisse Group AG, Schulze’s financial adviser, is confident it can obtain financing for an offer, according to a letter sent to the board Monday. “I have been actively exploring all available options for my ownership stake,” Schulze, 71, said in the letter. Best Buy shares surged as much as 34 percent in early trading.
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