Best Buy CEO Resigns; Cloud, Managed Services Push Continue
Best Buy (NYSE: BBY) CEO Brian Dunn has resigned and Director G. Mike Mikan has been named interim CEO while the search for a permanent Best Buy CEO begins. The CEO change arrives as Best Buy attempts to position Geek Squad for managed services and mindSHIFT for broader managed and cloud services. Here’s the background.
Dunn’s exit triggered plenty of questions. In a prepared statement on April 10, Best Buy said Dunn’s departure was a mutual decision and indicated that the departure had nothing to do with operations, financial controls, policies or procedures. But shortly thereafter, Best Buy issued another statement indicating that Dunn resigned amid a probe into his “personal conduct,” according to The Wall Street Journal.
Read between the lines and it sounds like there’s no impact on Best Buy’s push into managed and cloud services for SMB customers. But we’ll be watching to see who Best Buy taps as its permanent CEO. That move could give new clues about where Best Buy is heading next in IT.
In the meantime, interim CEO Mike Mikan has finance and CFO-oriented experience, at a time when Best Buy needs online retail, cloud, IT and marketing expertise to beat back competition from Amazon.com. Best Buy announced a range of business changes back in March 2012 as part of a multi-year plan to reinvent the company.