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Best Buy suffering with no succession plan

Confronted with an extraordinary situation, the board of Twin Cities-based Best Buy did what good corporate governance practices required. It fired the chief executive. As a result, the company is in a mess, the New York Times reports.
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Confronted with an extraordinary situation, the board of Twin Cities-based Best Buy did what good corporate governance practices required. It fired the chief executive. As a result, the company is in a mess, the New York Times reports.

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Minnesota-based electronics retail giant Best Buy, reeling from a string of bad news in recent months, had another interesting week. On Thursday, founder Richard Schulze cut ties to the company's board. Would he sell his stake in the company, position himself for a private takeover, or something else?

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