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Best Buy's Mikan Promises Blueprint

April 12, 2012 By Stephen Silver
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In a letter to employees Wednesday, Best Buy's interim CEO promised to create a "blueprint" for the company's future growth, while also stating that "priorities" established shortly before the departure of Brian Dunn will continue.

G. Mike Mikan, a Best Buy board member for the last four years who was named interim chief executive Tuesday, also vowed that employees would be told first about company news in the future.

"It's important to know that I'm very pleased with the priorities that have been established to address many of the underlying challenges in our business - improving the customer and employee experiences, re-energizing the store portfolio, reducing costs and driving our global growth strategies," Mikan wrote.

The blueprint, Mikan wrote, is seen as "a longer-term plan designed to capitalize on the actions we already are implementing, and position Best Buy for sustained, profitable growth in the years ahead."

Dunn's surprise resignation was announced by Best Buy Tuesday morning. That afternoon, the company revealed that the CEO's departure had followed an investigation into unspecified "personal conduct" on Dunn's part. Mikan was named chief executive on an interim basis while Best Buy conducts a search for a permanent CEO.

In the letter, Mikan also emphasized his Minnesota roots. The executive's grandfather, George Mikan, starred for the Minneapolis Lakers in the 1950s.


 

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