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Best Buy selects the nation's largest executive search firm to find its next CEO

The Richfield-based consumer electronics giant hopes to hire Brian Dunn's replacement within the next nine months. Dunn resigned in April amid an internal probe that later found he had an inappropriate relationship with a female employee. Best Buy also disclosed interim CEO Mike Mikan's compensation package. He is considered a candidate to permanently replace Dunn.
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The Richfield-based consumer electronics giant hopes to hire Brian Dunn's replacement within the next nine months. Dunn resigned in April amid an internal probe that later found he had an inappropriate relationship with a female employee. Best Buy also disclosed interim CEO Mike Mikan's compensation package. He is considered a candidate to permanently replace Dunn.

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Best Buy selects CEO search committee

Four board members will lead the global search for a new chief executive officer at the Richfield-based electronics retailer. Brian Dunn resigned from the leadership position amid an investigation into his personal conduct. Interim CEO Mike Mikan is considered a candidate to permanently replace Dunn. Best Buy expects the search process to take six to nine months.

Best Buy CEO: 'Showrooming is one of the greatest falsehoods'

Best Buy's new top executive, Hubert Joly, tells the Star Tribune that he's "not a big fan of shrinking the company." He wants the Richfield-based electronics giant to maximize sales with its existing stores. One analyst was also a bit puzzled by Joly's comments about "showrooming." "I don't think he's right. I think there's plenty of evidence of people doing that," said Laura Kennedy.

Best Buy CEO: We'll rise despite upheaval

After a series of bombshells that have shaken the company, Best Buy's interim CEO is trying to reassure employees that the electronics retail giant will rebound and rise again. "This has undoubtedly been the most difficult period in Best Buy's history," G. Mike Mikan said in a video message to employees Tuesday, the Pioneer Press reports.

Fourth top executive leaving Best Buy in less than two months

CFO Dave Deno is the second top executive to announce his departure this week from the troubled Richfield-based electronics retailer. CMO Barry Judge resigned Wednesday. CEO Brian Dunn stepped down last month amid an investigation into his personal conduct and Geek Squad founder and CTO Robert Stephens left in March.

CEO Brian Dunn resigns from Best Buy

Dunn is stepping down after being with the Richfield-based electronics retailer for nearly 30 years. Best Buy recently announced it was closing 50 stores and terminating 400 corporate jobs. Board member Mike Mikan will serve as interim CEO during the search for a permanent replacement.

Best Buy compensation consultant resigns, opposed retention bonuses

Longtime independent compensation expert, Don Delves, is no longer working with Best Buy's compensation committee. Bloomberg reports Delves quit after the Richfield electronics giant awarded more than 100 managers extra pay without linking it to performance -- a decision he opposed. According to an email statement, Best Buy said the incentive pay is "intended to ensure leadership continuity."

Best Buy expanding its investigation into former CEO Brian Dunn

The Richfield-based electronics chain is looking into whether top company leaders failed to report information to the board of directors, according to the Star Tribune. Brian Dunn resigned abruptly last month amid an internal investigation. He's accused of personal misconduct with company resources.