Dunn Exits Best Buy; Mikan Becomes Interim CEO
April 11, 2012,
MINNEAPOLIS-Brian Dunn has resigned as CEO of Best Buy, and the retailer has named George L. Mikan, one of its directors, as interim CEO.
A Best Buy statement said Dunn's resignation came from a mutual agreement between him and the board of directors. "There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies and procedures," the statement said. Best Buy has also begun a search for a permanent CEO, and Dunn also resigned as a member of the board.
Press reports said Dunn resigned in the midst of an investigation into his personal conduct. No details on this investigation were available from Best Buy.
Dunn began his career with the company in 1985, as a store associate. He subsequently rose through the ranks of the company until he was named CEO in 2009.
Mikan has been a Best Buy director since 2008. Previously, he served as executive vice president and chief financial officer of UnitedHealth Group and as CEO of Optum, a health-care services company affiliated with UnitedHealth.