Richard Schulze

Dick Schulze is the founder and immediate past chairman of Best Buy. He lives in Bonita Springs, Florida.

Biography
He was born and raised in Saint Paul, Minnesota where he dropped out from Central High School. He subsequently spent time in the U.S. Air Force with the Minnesota Air National Guard. He has an honorary degree from the University of St. Thomas in Saint Paul. On November 9, 1991, Minnesota Governor Arne Carlson designated the day as Richard M. Schulze Day..

Schulze is Catholic and was married to Sandra J. Schulze until her death in 2001, with whom he had four children.

In May 2012, Richard Schulze announced that he is stepping down as Best Buy chairman after an investigation found that he knew that the CEO was having a relationship with a female employee and did not alert the audit committee.

It was announced on August 6, 2012 that Richard Schulze made a bid to buy out the Best Buy company. According to the report he already owns 20% of the company. This news caused the share price of Best Buy to go up slightly.>

By late February, talks between Best Buy Co. and Schulze ended. He and private equity investors sought three board seats in exchange for acquiring a minority stake in the company. However, he wasn't able to line up the funding >

On March 25, 2013 Best Buy Co. Inc. announced that Richard Schulze will rejoin the company that he founded with a new title: chairman emeritus. The Richfield-based retailer also announced that two former executives, Brad Anderson and Al Lenzmeier, will serve as Schulze’s representatives on the board of directors. They are key Schulze allies who had advised him on his attempt to buy the company. >