MINNEAPOLIS — An investigation into personal misconduct led to the sudden resignation of Best Buy chief executive Brian Dunn, the electronics retailer acknowledged Tuesday.
“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. Prior to the completion of the investigation, Mr. Dunn chose to resign,” said Claire Koeneman, a spokeswoman for the Richfield, Minn.-based electronics retailer.
The revelation came in response to questions from the Star Tribune about whether Dunn’s behavior was a factor in the decision to step aside. Within the past two weeks, Dunn told analysts he was “excited about the strategy we have for the future.”
In a statement Tuesday, Best Buy said Dunn’s departure was a “mutual agreement that it was time for new leadership to address the challenges that face the company.”
Best Buy board member G. Mike Mikan has been named interim CEO while a search for a successor to Dunn begins.
“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,” Dunn said in a statement.
“We thank Brian Dunn for his many years of service to the company and wish him well in his next endeavors,” company founder Richard Schulze said. “As we move forward, we are very pleased to have a strong leader with Mike Mikan’s credentials as interim CEO.”
