"Personal Conduct" Probe Cited in Dunn Departure
Best Buy disclosed late Tuesday that the resignation of CEO Brian Dunn, which had been announced earlier in the day, was the result of an investigation into Dunn's personal conduct.
The company said in a statement that "certain issues" related to Dunn's conduct were brought to the board's attention, leading to a company audit. Dunn chose to resign prior to the audit's completion. Best Buy did not disclose the nature of the alleged conduct, but did state that it was "unrelated to the company's operations or financial controls."
Best Buy announced Tuesday morning that Dunn, a company employee since 1985 who became CEO in 2009, was stepping down due to "mutual agreement that it was time for new leadership to address the challenges that face the company." The first announcement did not mention the personal conduct issue.