Best Buy Co.’s Chief Executive Brian Dunn has resigned from the struggling electronics giant, the company said Tuesday.
There was no bad blood affecting the decision, according to Best Buy, “no disagreements … on any matter relating to operations, financial controls, policies or procedures.” Instead, Dunn’s departure was part of a “mutual agreement” of the necessity “to address the challenges that face the company.”
While Best Buy looks for Dunn’s permanent replacement, board member G. Mike Mikan will take over as interim chief executive. Dunn had spent 28 years with the company.
The retailer is in revamp mode as it tries to claw back customers wandering over to competitors such as Amazon.com. Its holiday season sales were less than spectacular.