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Dunn Out At Best Buy; Mikan Leads In Interim

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

“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, who will remain on the
board while serving as interim CEO, has been a Best Buy director since April

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.