By Kevin McCauley
Hill + Knowlton Strategies is handling the shocker resignation of Best Buy CEO Brian Dunn, who is leaving the electronics retailer after 28 years following a probe by the board into his “personal conduct.”
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Two weeks ago, Dunn announced a “new transformation strategy” for the $50.7B company that lost $1.2B during its latest fiscal year ended March 3.
The board announced that it has no disagreements with Dunn, a one-time Best Buy stereo salesman who assumed the helm in 2009, on any matter relating to “operations, financial controls, policies or procedures.” It has selected director Mike Mikan, former CFO of UnitedHealth Group, as interim chief while a search is underway for a new leader.
Best Buy founder Richard Schulze, remains chairman of the Minneapolis-based chain that received an unsolicited mini-tender offer from TRC Capital Corp. on April 9. Best Buy told shareholders to ignore that bid.
Claire Koeneman, H+K’s executive VP and Chicago office head, works the Best Buy business. She joined the WPP unit from the Financial Relations Board last May. Koeneman exited FRB, which has been absorbed into MWW Group, as president.
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