Paper: Conduct questions led to Best Buy CEO exit

Posted at 3:11 PM on April 10, 2012 by Paul Tosto
Filed under: Economy, Retail

The Star Tribune this afternoon is reporting that matters beyond strategy and stock performance led to the resignation today of Best Buy CEO Brian Dunn.

The newspaper writes:

An investigation into personal misconduct led to the sudden resignation of Best Buy CEO Brian Dunn, the electronics retailer acknowledged Tuesday.

"Certain issues were brought to the board's attention regarding Mr. Dunn's personal conduct, unrelated to the company's operations or financial controls, and an audit committee investigation was initiated. Prior to the completion of the investigation, Mr. Dunn chose to resign," said Claire Koeneman, of H+K Strategies, and a spokeswoman for the Richfield-based electronics retailer.

The revelation came in response to questions from the Star Tribune about whether Dunn's behavior was a factor in the decision that he step aside. Within the past two weeks, Dunn told analysts that he was "excited about the strategy we have for the future."