Brian Dunn resigned as Best Buy CEO and Director G. Mike Mikan was named interim CEO while the company searches for a new CEO. The move comes two weeks after the appliance and consumer electronics retailer announced a loss of $1.6 billion in the most recent quarter.
Best Buy said in a statement that, "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."
Richard Schulze, founder of Best Buy and current board chairman, thanked Dunn for his 28 years of service t Best Buy and said, "We are very pleased to have a strong leader with Mike Mikan's credentials as interim CEO."
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