Best Buy opening up its CEO search

  • Article by: THOMAS LEE , Star Tribune
  • Updated: April 20, 2012 - 11:56 PM

The Richfield-based retailer's new commitment to transparency will help it recruit a world-class leader, experts say.

  • 4
  • Comments

  • Results per page:
  • 1 - 4 of 4
xorcistApr. 20, 1210:07 PM

The only reason Best Buy is opening the CEO search and posting it on their web site is because the Board has finally realized that they've screwed up by letting Schulze decide who gets to be CEO.

Of course, it's far more telling that the reason they have no "bench" of qualified talent to fill the role of CEO is because they also don't post any jobs for other executives on their web site, and they never have. So it's been the same process for becoming a senior executive all these years: they headhunt people they're interested in, and then hire the one that interviews the best, regardless of their capability.That leaves no room for others who are equally or more talented

Seems it long past time for investors to oust the entire Board.

13
0
pitythefoolsApr. 21, 12 8:37 AM

Whoever is chosen, it better not be from a traditional brick and mortar retailer. That concept is dying. What Best Buy needs is a true change agent, who will entirely redefine what Best Buy is. Change agents tend to have very short job tenure. Per Jack Welch "Change agents have the courage to bet their careers." I'd say the new CEO will be there about three years - but will have a huge severance payout defined in their employment contract.

4
0
earthlingApr. 21, 12 8:46 AM

OK, you bent my arm. I'll work for half of what the last guy took. Wait, make that 25% of what he was paid. I shop there all the time, and have done so for 30 years. I'll have far more experience with your products and history than whoever you hire. And if you cannot connect with the common consumer like me, then you might was well join Blockbuster and Circuit City in the retail graveyard. Leave me a message here on Startribune.com if you're serious. Regards -

4
1
democrat4evrApr. 21, 1210:50 AM

Turn out the lights, the parties over.

4
1
  • 1 - 4 of 4

Comment on this story   |  

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT