Best Buy's top China executive resigns

  • Article by: Thomas Lee , Star Tribune
  • Updated: March 21, 2013 - 6:19 AM

A perceived lack of support and questions over the Five Star electronics chain’s future may have played roles in Nicolas Wang’s resignation.

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stingballMar. 20, 1312:22 PM

Joly will deny over and over again that Best Buy is considering selling Five Star, only to announce the sale in a press release within one year. CEOs and company spokespersons never seem to be forthright and straightforward about anything and will feed the public denial and spin before finally admitting to what everyone knew would happen all along. The thing is, the public doesn't fall for this anymore but that doesn't stop CEOs and company spokesman from continueing to do it. Joly, there is nothing wrong with selling Five Star if you think it is a good business decision for Best Buy, so no need to be coy about it.

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cavellMar. 20, 1312:50 PM

Ironic. China makes all of bestbuys quality products. BB can't even sell the Chinese stuff in china.

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spunkykleeMar. 20, 13 1:04 PM

Big deal, get somebody else, these people are not superman, you never know they might find somebody better, people out

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alanam8Mar. 21, 1311:43 PM

Somebody should really do a story on precisely who was responsible for draining so much shareholder value into China. Let's start with the executives - such as Bob Willet, who ran BB international when these deals were made - and then continue with all of the senior management employees who didn't sound alarms, or read the writing on the wall when - two years ago - online retail began to eat away at the Chinese big boxes. Who in Best Buy has made the decision to hold onto the massive, and massively expensive Xujiahui real estate more than a year after the store closed? Shameful. Incompetent. Fire-able. Then again, I'm sure Five Star's ownership is might grateful for the $180 million.

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