Minneapolis - Best Buy CEO Brian Dunn has resigned as chief executive officer and director.
Director G. Mike Mikan has been named
interim CEO while the company conducts a search for a new CEO. Richard Schulze,
the founder of Best Buy, continues as chairman.
Best Buy said in a statement: "There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures. There was mutual agreement that it was time for new leadership to address the challenges that face the company."
"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," said Schulze. "As we move forward, we are very pleased to have a strong leader with Mike Mikan's credentials as interim CEO."
"The Best Buy team and I will be extremely focused on successfully managing this period of transition. 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," said Mikan.
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 VP and chief financial officer of UnitedHealth Group and CEO of Optum, a healthcare services company and affiliate of UnitedHealth.