Best Buy announced today that Brian Dunn has resigned as the company's CEO and director.
Director G. Mike Mikan has been selected as interim CEO while the retailer conducts a CEO search. Best Buy founder Richard Schulze will continue to serve as chairman.
In a statement, Best Buy insisted that "there were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures."
"I have enjoyed every one of my 28 years with this company, and I leave it today in position for a strong future. I am proud of my fellow employees and I wish them the best," Dunn said in a statement.
Mikan said he and the Best Buy team "will be extremely focused on successfully managing this period of transition. I want to assure our employees, customers and other key stakeholders that we will work together to achieve our company's growth and profitability goals."
Mikan has served as Best Buy director since April 2008 and has held executive roles at UnitedHealth Group Inc.
A CEO search committee has been formed, Best Buy said.
The news comes about two weeks after Best Buy announced plans to shut down 50 of its big box stores in fiscal 2013.
The retailer will replace those big box stores with 100 smaller, Best Buy Mobile stores for a total of 600 to 800 mobile locations by the end of 2016, up from 305 today. The company did not provide details on which stores will be affected.
In November, British mobile retailer Carphone Warehouse said it would shut down the 11 Best Buy stores it opened in the U.K. less than two years ago. Carphone Warehouse opened the stores in a joint venture with Best Buy in May 2010, but it suffered losses of at least 83 million pounds ($133 million), due in part to the growth in online retailers like Amazon.The following month, meanwhile, Best Buy halved its holiday staff, taking on only 15,000 seasonal workers, a sharp decline from the 29,000 it hired in 2010.
UPDATE: The Star Tribune this afternoon reported that issues regarding Dunn's "personal conduct" led to his resignation. No further details were disclosed.
For more from Chloe, follow her on Twitter @ChloeAlbanesius.
