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New Top Guy at Best Buy

CEO Schulze stepping aside

Published

22 years ago

February 25, 2002

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Richard Schulze, founder of Best Buy Co. Inc. (Eden Prairie, Minn.), is exiting his role as ceo of the largest consumer electronics retailer in the U.S. on June 30. Schulze, who will remain as chairman, will be replaced by his longtime lieutenant, Bradbury Anderson.

Anderson, previously vice chairman, president, and chief operating officer, will assume responsibility for the company's aggressive growth plans, the retailer said in a statement.

Best Buy, which operates nearly 1900 stores under its own name as well as Future Shop, Sam Goody, Suncoast and other brands, last month forecast earnings growth of 18 percent to 21 percent for its fiscal year starting March 3, on top of nearly 30 percent growth projected for the current year.

“It's an exciting time to be assuming this role as we near the completion of what will be a banner year, with record sales and earnings,” Anderson said in a statement.

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