Skip to main content

Former Best Buy interim CEO Mike Mikan resigns from board

  • Author:
  • Updated:

A big change revealed Monday about Best Buy may be a telling sign about the future direction of the Richfield-based electronics retailer, Minneapolis-St. Paul Business Journal reports.

A U.S. Securities and Exchange Commission filing Monday indicated G. Mike Mikan -- the company's former interim Chief Executive Officer and member of the board of directors since 2008 -- had resigned from the company Dec. 26; and another board director Matthew Paull, is leaving in April.

Analysts tell the Star Tribune that the resignations will smooth negotiations with Best Buy founder Richard Schulze as he prepares to make an offer to take the company private. Schulze reportedly had a contentious relationship with Mikan, Paull and current board chairman Hatim Tyabji, who pushed for him to be removed from the board last spring.

Mikan -- who was interim CEO from April to September when the company hired Hubert Joly as its permanent CEO -- said he was leaving Best Buy to accept the position of president with Greenwich, Conn.-based ESL investments Inc.

Next Up

Screen Shot 2022-12-02 at 7.59.36 AM

St. Paul's East Side Bar closes after two-and-a-half years in business

The bar opened just as the COVID-19 pandemic closed bars and restaurants.

Police tape

Police: Man and woman found dead inside Rochester home

An investigation is ongoing as of Friday morning.


Hospital chiefs say nursing strike will come at 'worst possible time'

A nurses union announced an almost three-week strike to take place in the Twin Cities.


Sven Sundgaard: What's in store for MN's weather in December?

Sundgaard recaps Minnesota's fall and looks ahead to December.


Manure spill in Wisconsin leads to hours-long main street disruption

The spill was first reported just before 7:30 a.m. Tuesday morning.


Ice Cube to perform 2 nights at Mystic Lake Casino

The rapper hasn't performed in Minnesota since 2018.


Nicollet Mall's new Ties Lounge & Rooftop closes 'indefinitely'

The establishment aimed to reconnect the downtown community.