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Winners in the Toshiba/IBM POS Deal
IBM’s decision to sell its Retail Store Solutions (RSS) business to Toshiba TEC was the most significant announcement in the retail point-of-sale industry in the last 10 years, according to industry analyst Greg Buzek, president, IHL Group, Franklin, Tenn. The acquisition establishes a new company in which Toshiba will initially own 80.1% and IBM 19.9% for the next three years to aid transition and after which time IBM will relinquish its stake.
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Best Buy appoints CEO search committee
Minneapolis -- Best Buy Co. has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.
As part of Best Buy’s commitment to transparency, the company said the board will also publicly announce the selected search firm and will post the position on the company website. The final search firm selection will be announced in the next few weeks.