|
Richard Schulze, the founder and chairman of Best Buy who had alsoserved as the CEO of the company for a long time, has now announcedto quit from the position of chairman as well. He will remain thedirector of the retail chain, but is leaving his role in thecompany"s management. The present chairman of the auditcommittee, Hatim Tyabji, is being nominated as the new chairman ofthe company. Best Buy is facing a tough competition from other retailers andneeds to develop a new strategy to remain in business. Its currentstores are experiencing low sales as compared to other retailers.People visit Best Buy stores, but often buy items from some otherretail chains. The company also started selling online, but saleshad not increased. "Best Buy has become where people go to pick products they buysomeplace else. The company has to find a way to fix that, and Ithink they should take a hard look at Amazon and Apple (Nasdaq:AAPL) for successful models here," Rob Enderle Rob Enderle , who is the principal analyst at Enderle Group, said, as reportedon ecommercetimes.com . Now the founder of the company is leaving - which would have agreat impact on the company"s future and its workenvironment. The new leadership would have to put great effort tobring the company back on track and take it towards profitability.It is going to be a test of the expertise and foresight of the newchairman. Some analysts feel that the company can avail a lot and retain itsbusiness. "Best Buy is really large, they are stillprofitable, and they have a lot of leverage with their suppliers.There's also an effort for unilateral pricing and Amazon having topay state sales tax, so there will be some leveling of the playingfield there. As quickly as things are changing, Best Buy has timeon their side to figure out a way to get there," AnthonyChukumba, senior research analyst at BB&T Capital Markets,said. Schulze is in the process of exploring different options forhimself to keep his stake in the company. He has not given a clearstatement about his future plans and therefore analysts arediscussing the various options he might continue with in future. The e-commerce company in China offers quality products such as China PE Pipes , PE Gas Pipe Manufacturer, and more. For more , please visit High Density Polyethylene Hdpe Pipe today!
Related Articles -
China PE Pipes, PE Gas Pipe Manufacturer,
|
