Interim Best Buy CEO G. "Mike" Mikan is getting an annual base salary of $1.1 million, the equivalent of former CEO Brian Dunn's pay. In addition, Best Buy also will pay Mikan based on the annual performance bonus that Dunn could have earned last year: $2.2 million. Corporate governance experts say Mikan's pay is overly generous, given his lack of retail experience.
Update: Holy Angels evacuated over bomb threat, school says
Someone left a voicemail early Tuesday suggesting there was an explosive device.
Convicted stalker charged with harassment of another DJ at The Current
He pleaded guilty to similar charges involving the DJ's colleague back in 2015.
Gophers fall below roster minimum, postpone Penn State game
It is "due to internal COVID-19 protocols within the Golden Gopher program."
Report: Vikings request interview with Rams' Raheem Morris
Morris was once the youngest head coach in the NFL at 33 years old.
Sheriff: Drunk driver crashed trying to 'beat the train'
The BNSF train slammed into the side of the driver's car.
Man run over after parking dispute leads to road rage crash
The two groups fought about parking prior to the crash.
Deadly crash shuts down small stretch of Chaska highway for hours
A driver crossed over the center median and hit another vehicle.
You can now order 4 free at-home COVID tests from the government
Tests will ship for free within 7-12 days, according to the White House.
Minnesota's COVID-19 update for Tuesday, January 18
Minnesota has reached 11,000 COVID-19 deaths.
St. Paul students have list of demands for district amid COVID response
They've released a list of demands.
Vikings must continue building out receiving corps in 2022
Justin Jefferson headlines a young, promising group, but more depth is still needed
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 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: 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.
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.
Best Buy CEO resigned amid misconduct investigation
A spokeswoman for Best Buy says a committee was investigating Brian Dunn's personal conduct when the CEO chose to resign. She says the issues that led to the investigation were not related to Best Buy's operations or finances. The company described Dunn's departure as a "mutual agreement that it was time for new leadership."
CEO's resignation won't end Best Buy's investigation of his conduct
Best Buy's board of directors says its investigation into Brian Dunn's personal conduct remains open even though Dunn stepped down as CEO this week. The company says the conduct it's looking into does not involve Best Buy operations or finances, but has offered no other details.
Best Buy's new CEO gets $20M+ pay package
Hubert Joly, the newly appointed CEO at the troubled Richfield-based electronics retailer will earn a base salary of $1.175 million in his first year, CNN Money reports. He will also receive a mix of cash and stock options worth $20 million, according to the Pioneer Press. Joly takes the reins of Best Buy next month.
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.
You Can Get BMTN Special Offers!