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How Schulze's Return to Best Buy Was Worked Out

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According to Fortune, it took some creative politicking to bring Best Buy founder Richard Schulze back to the company as chairman emeritus of its board of directors. While Best Buy CEO Hubert Joly and Richard Schulze started off on the wrong foot, according to Fortune, Joly was able to mend the rift and welcome Schulze back to the company by showing respect for the founder's history at Best Buy.

"Joly had attempted to meet directly with Schulze for several months but was repeatedly rebuffed. When the two finally met just before Thanksgiving, Joly approached the meeting with respect for Schulze. Even though the board had chosen him as the company's CEO three months earlier, Joly handed Schulze his resume and acted as if he were still applying for the job. Schulze would later say that this simple gesture "meant a lot."    

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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