updated 07:25 pm EDT, Tue April 10, 2012
Best Buy CEO target of internal probe
The sudden resignation of Best Buy's CEO Brian Dunn was in the wake of an investigation into "personal conduct," the company said Tuesday night. Without going into details, it said in a statement that "certain issues" were mentioned to the board that prompted an investigation. Dunn had decided to quit before the probe was over, the retailer said, and it didn't relate to the company's direction or its finances.
Details of the investigation weren't mentioned.
Initially, the resignation had been characterized as a "mutual" decision. Companies often use the euphemistic phrasing to mask what's often a firing or high pressure from board directors or executives to quit. Strictly voluntary departures are more clearly worded as such, whether it's to "pursue other interests" at another company or to retire, and usually have a planned transition rather than an immediate notice.
While it's possible any conduct is much more innocuous, the terms recall the circumstances around former HP CEO Mark Hurd's exit. He too left under unusual circumstances relating to a probe and was later found to have been caught making unwanted advances towards contractor Jodie Fisher. Dunn's conditions are likely very different given that, at a minimum, he isn't believed to have misused company resources in the process.