Best Buy CEO Resigns During Probe Of "Personal Conduct"

Best Buy, already reeling from a $1.7 billion loss during the last quarter of 2011, is now seeking new leadership after the resignation of its CEO.

Brian Dunn’s resignation comes at a time that Best Buy’s board was conducting a probe into his “personal conduct,” according to a statement from the company. Best Buy did not provide any further information concerning the probe, or what it involved.

Best-BuyMany were already questioning Dunn’s leadership. In some ways it seems incongruent that Best Buy, famous for its days early lines during special sales events, could be struggling with sales. But it is. Retail analyst blame much of the loss in sales to shoppers using the store as a way to preview products before buying them on Amazon. Some of Dunn’s critics say he was too slow to respond to the change in the way shoppers were using the store.

Just last week, Best Buy announced they were closing 50 of their large stores, opening 100 new, smaller, stores with a focus on smart phone sales, and eliminating 400 positions. The company said they would continue on that course despite Dunn’s resignation.

While you're here - did you know NFS members get 1000's of discounts to stores, restaurants, hotels, rental cars, amusement parks and more? And the cool thing is that you can join for free! Click Here Learn More
It's Nice To Share!
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
- To link to this page, copy & paste -
Best Buy CEO Resigns During Probe Of "Personal Conduct"
Or use the shortURL: https://n4s.us/8472
avatar
Jimmy is an assistant editor and a writer here at News For Shoppers. He has more than two decades of experience in the shopping industry, having worked in sales and marketing in both the technology and fashion industries.