Best Buy is an American multinational consumer electronics corporation headquartered in Richfield, Minnesota, a Minneapolis suburb. Internationally, it also operates in Canada and Mexico. It was formerly operational in China until February 2011 (when the faction was merged with Five Star) and in Europe until 2012. The company was founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store named Sound of Music. In 1983, it was renamed and rebranded with more emphasis placed on consumer electronics. Best Buy's subsidiaries include Geek Squad, Magnolia Audio Video, and Pacific Sales. Best Buy also operates the Best Buy Mobile and Insignia brands in North America, plus Five Star in China. Best Buy sells cellular phones from Verizon Wireless, AT&T Mobility, Sprint Corporation, and Boost Mobile in the United States. In Canada, carriers include Bell Mobility, Rogers Wireless, Telus Mobility, these carriers' fighter brands and competing smaller carriers such as SaskTel. Best Buy was named "Company of the Year" by Forbes magazine in 2004, "Specialty Retailer of the Decade" by Discount Store News in 2001, ranked in the Top 10 of "America's Most Generous Corporations" by Forbes in 2005 (based on 2004 giving), and made Fortune magazine's list of "Most Admired Companies" in 2006. Hubert Joly serves as Best Buy's chairman and CEO. According to Yahoo! Finance, Best Buy is the largest specialty retailer in the U.S. consumer electronics retail industry.