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Two Directors Leaving Best Buy’s Board

Minneapolis — Best Buy is losing two board members, including former interim CEO Mike Mikan.

Mikan, who temporarily succeeded Brian Dunn, had campaigned for the permanent CEO position, but was ultimately passed over in favor of Hubert Joly. He officially left the board Dec. 26 to become president of ESL Investments, the hedge fund run by Sears Holdings’ chairman Eddie Lampert.

The other director, Matthew Paull, is leaving in April.

Both maintained contentious relationships with founder and former chairman Dick Schulze, observers told the Minneapolis StarTribune, and their departures could help ease Schulze’s ongoing effort to acquire the struggling chain.