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Retail

Best Buy CEO Brian Dunn resigns

Best Buy CEO Brian Dunn resigns

Wed 11 Apr 2012 11:06am GMT / 7:06am EDT / 4:06am PDT
BusinessRetail

"Time for new leadership to address the challenges that face the company"

Best Buy

With operations in the United States, Canada, Europe, China and Mexico, Best Buy is a multinational retailer...

bestbuy.com

Brian Dunn, the chief executive of US retailer Best Buy, has tendered his resignation in a mutual agreement with the comapny's board.

The CEO has stepped down in response to recent poor performance which saw the chain close 50 US stores and cut 400 jobs.

Those same results also saw Standard and Poor's threaten to downgrade the company's credit rating.

A statement from Best Buy insisted that the move was free of any animosity, stating that "it's time for new leadership to address the challenges that face the company".

Best Buy recently pulled its UK presence of 11 Big Box stores after poor performance, despite reporting a record opening weekend for its flagship store in Essex.

2 Comments

Peter Howell
Studying Ph.D Research Programme - Computer Games Technology

8 0 0.0
Small typo in the title there ;)

Posted:2 years ago

#1

Dan Pearson
European Editor

103 253 2.5
Well spotted! Think I must have been subconsciously punning internally and worked up something on Brain/Brian drain which thankfully never came to fruition. :)

Posted:2 years ago

#2

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