Best Buy timeline
March 26, 2013 at 2:08AM
June 2009: Brian Dunn named CEO.
April 10, 2012: Dunn resigns abruptly as CEO.
May 14, 2012: A Best Buy investigation reveals Schulze was aware of allegations surrounding Dunn's personal behavior with a female employee but did not alert the full board of directors. Schulze resigns as board chairman but remains on the board.
June 7, 2012: Schulze resigns from the board of directors, freeing him to "explore all available options" to regain control of the company.
June 26, 2012: Best Buy's board approves $2 million in retention bonuses for executives.
July 31, 2012: Schulze recruits former Best Buy CEO Brad Anderson and former president and COO Allen Lenzmeier to join his takeover team.
Aug. 6, 2012: Schulze submits a takeover proposal to board, requests more financial information from Best Buy.
Aug. 20, 2012: Best Buy names Hubert Joly as new CEO.
Oct. 9, 2012: Joly agrees to allow Schulze to interview eight to 10 Best Buy executives as preparation for his formal takeover bid.
Nov. 13, 2012: Joly presents his "Renew Blue" strategy to analysts and investors in New York.
Nov. 21, 2012: Joly and Schulze meet formally for first time to discuss future of Best Buy.
Dec. 14, 2012: Best Buy and Schulze agree to postpone deadline for making a takeover offer until February.
Dec. 26, 2012: Director and former interim CEO Mike Mikan steps down from board.
Feb. 28, 2013: Schulze fails to make a takeover bid by deadline.
March 25, 2013: Schulze nominates Anderson and Lenzmeier to represent his 20 percent stake in the company. Schulze is named chairman emeritus.
Patrick Kennedy
about the writer
Commodity markets are in a down cycle, and the Minnesota-based cooperative expects it to persist this year.
