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Best Buy forms search committee to find new CEO

Posted on Friday, April 13th, 2012 at 8:16 pm    

Best Buy announced this week that it has created a search committee to find a new CEO to replace Brian Dunn. Dunn abruptly resigned on Tuesday after the company began an internal investigation into his personal conduct. He had been CEO since 2009.

Best Buy said it will conduct a global search, including internal and external candidates. Mike Mikan, 39, who is currently serving as interim CEO is among the candidates for the position. The struggling electronics chain says the search could take up to nine months.

Expert analysts believe Best Buy will have trouble finding an experienced CEO that will be able to manage the major transitions the company is about to go through. Last fiscal year, Best Buy lost $1.23 billion.

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