Report: Best Buy founder recruiting executive team

New York -- Richard Schulze, the founder of Best Buy, is recruiting a team of managers to run the company should his attempt to take the company private be successful, according to a report by Bloomberg.

“He is talking to people he trusts. There is a small group he’d like to have with him in righting the ship,” J.D. Wilson, senior VP of enterprise capabilities, said in an interview with Bloomberg.

Wilson said his position is being eliminated as part of Best Buy’s planned cutbacks.

Schulze, 71, currently holds a 20% stake in Best Buy.