Best Buy Names Mikan Interim CEO as Dunn Resigns

Best Buy Names Mikan Interim CEO as Dunn Resigns

Best Buy Teen Tech Center

Minneapolis, MN—The board of directors of Best Buy Co. announced that Brian Dunn resigned as chief executive officer and director. There were no disagreements between Dunn and the company on any matter relating to operations, financial controls, policies or procedures, however, there was mutual agreement that it was time for new leadership to address the challenges that face the company.

Director G. Mike Mikan was 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.

“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.

“We thank Brian Dunn for his many years of service to the company and wish him well in his next endeavors,” commented Schulze. “As we move forward, we are very pleased to have a strong leader with Mike Mikan’s credentials as interim CEO.”

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 and CEO of Optum, a health care services company and affiliate of UnitedHealth. Mikan has strong financial and operational expertise, as well as public company leadership experience.

“The Best Buy team and I will be extremely focused on successfully managing this period of transition,” said Mikan. “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.”

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.