Best Buy Names Brian Dunn President

By Alan Wolf -- TWICE, 1/12/2006

Minneapolis — Brian Dunn, formerly Best Buy’s retail president North America, will succeed Al Lenzmeier as president/COO, effective Feb. 26, the start of the company’s fiscal year.

Lenzmeier, who had planned to retire at that time, will continue in his role as vice chairman, a title he shares with CEO Brad Anderson.

In his new role, Dunn will retain responsibility for all U.S. stores while assuming additional responsibility for the merchant team, the customer business group and Best Buy’s services and small-business functions. The expansion of duties represents a new structure for the president’s office, and is designed to boost company efficiency and performance while further differentiating the chain from its competitors.

Dunn, who joined Best Buy in 1985 as a sales clerk, “has a deep contextual knowledge of the company,” Anderson said.

Also promoted was chief information officer Bob Willett, to the new position of CEO of Best Buy International, which currently encompasses the Future Shop, Best Buy and Geek Squad stores in Canada and sourcing offices in China. The post was created to “execute the company’s strategy of long-term growth from international expansion,” the company said, which will include Best Buy’s first retail forays into China later this year. Willett, who joined the company from Best Buy consultant Accenture in 2004, will continue to oversee its IT and supply chain functions. His overall goal, Best Buy said, is to “drive value globally by bringing existing capabilities to new markets or platforms, with limited organizational investment.”

Elsewhere, finance executive VP and chief financial officer Darren Jackson has been given added responsibility for designing governance structures to support the company’s strategic plans, as well as accountability for eq-life, Best Buy’s health and wellness pilot store. Mike Marolt, president of eq-life, will report to Jackson going forward.

Also, Shari Ballard, human resources and legal executive VP, has been given added responsibility for improving the employee and customer experience and promoting employee self-actualization.

Under Best Buy’s new structure, Dunn, Lenzmeier, Jackson and Ballard will report directly to Anderson, while Ron Boire, executive VP and global merchandise manager, will report to both Dunn and Anderson. Boire’s direct reporting line to the CEO relates to his work on developing a personal networking strategy for Best Buy that pairs customer insights with advancements in technology to further its strategy of “making life fun and easy for consumers and small businesses,” the company said.