Best Buy Chairman Out After Staying Mum On Ex-CEO

Law360, New York (May 14, 2012, 4:26 PM EDT) -- Best Buy Co. Inc. founder Richard Schulze is stepping down as the company's chairman following an internal investigation that faulted Schulze for not reporting an "inappropriate relationship" between former CEO Brian Dunn and a female subordinate, Best Buy said Wednesday.

Schulze confronted the 51-year-old Dunn, who has already resigned as chief executive, about his relationship with a 29-year old employee in December, and Dunn denied that any romantic relationship existed.

But Schulze didn't bring the matter to the attention of the board's audit committee or the...
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