Brian Dunn has quit from the top job at Best Buy.
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Dunn, whom Smarthouse interviewed at CES earlier this year, has resigned as chief executive and director of retailing giant Best Buy, the company announced today.
“There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies” but a “mutual agreement” that new leadership was needed address challenges the retailer faces, according to a company statement.
Best Buy has laid off staff and restructuring its stores of late amid competition from e-tailers flogging everything from iPads to smartphones including the likes of Amazon.com.
Dunn has worked at Best Buy–the world’s largest electronics retailer–for 27 years.
However, there’s more to Dunn’s dudden departure than Best Buy are letting on, it appears.
An investigation is underway by the retailing giant into Dunn’s “personal conduct” whom chose to resign before the probe took place, according to the San Francisco Chronicle.
“Certain issues were brought to the board’s attention regarding Mr. Dunn’s personal conduct, unrelated to the company’s operations or financial controls, and an audit committee investigation was initiated,” a Best Buy spokeswoman said.
Director Mike Mikan has been named interim CEO while a search for Dunns replacement is underway.
“I have enjoyed every one of my 28 years with this company, and I leave it today in position for a strong future. I am proud of my fellow employees and I wish them the best,” said Dunn, who previously gave Gerry Harvey some words of wisdom on the retailing sector.
“We thank Brian Dunn for his many years of service to the company and wish him well in his next endeavors,” said Best Buy Chairman Richard Schulze. “As we move forward, we are very pleased to have a strong leader with Mike Mikan’s credentials as interim CEO.”
“The Best Buy team and I will be extremely focused on successfully managing this period of transition. I want to assure our employees, customers and other key stakeholders that we will work together to achieve our company’s growth and profitability goals,” said stand-in CEO Mikan.
The US based retailer employs 167,000 staff globally.