Brian Dunn has resigned as chief executive officer and director of Best Buy. “There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures,” said the retail giant in a statement. “There was mutual agreement that it was time for new leadership to address the challenges that face the company,” it added. Director G. Mike Mikan has been named interim CEO to lead the company while a search for a new CEO is underway. Richard Schulze, the founder of Best Buy, continues to serve as chairman.
Mr. Mikan, who will remain on the board while serving as interim CEO, has been a Best Buy director since April 2008. He formerly served as executive vice president and chief financial officer of UnitedHealth Group Incorporated and chief executive officer of Optum, a health care services company and affiliate of UnitedHealth.
A search committee of the board of directors has been created consisting of the founder and members of the nominating, corporate governance and policy committee. The committee will oversee the process for the identification and selection of the next CEO.