A search committee of the board of directors is looking for a replacement.
Brian Dunn CEO of Best Buy has unexpectedly resigned from the position he held since June 2009. G Mike Mikan, who currently serves on the tech retailer’s board, has been appointed interim CEO while a search for a new top executive is underway.
Dunn’s move comes weeks after Best Buy revealed plans to shut down 50 stores across the US in an effort to cut costs and recover from fierce online competition.
Mikan has been a Best Buy director since April 2008. Previously, he served as executive vice president and chief financial officer of UnitedHealth Group and chief executive officer of a healthcare service company, Optum.
The Richfield, Minn-based company said the two sides came to a mutual agreement and decided to part ways.
The search committee includes the founder, as well as members of the nominating, corporate governance and policy committees. It will oversee the process of identifying and selecting the next CEO.
