Brian Dunn To Become Best Buy CEO This Summer

January 21 20093 Commented

Categorized Under: Misc. Gadgets

[Brian Dunn]

Brian Dunn, the current President and COO of Best Buy Co., Inc. (NYSE:BBY) will be promoted to CEO this summer.  This is because the current CEO, Brad Anderson will be set to retire this summer.  Anderson has been CEO of Best Buy for about seven years.  Even though Anderson will be retiring from the CEO position, he will be retaining his position as Vice Chairman of the Board of Directors in order to help with the transition.

Brian Dunn started at Best Buy as a store associate 23 years ago.  He climbed the corporate ladder to become President and COO in 2006.  Since then, Dunn was responsible for Best Buy’s 1,000 retail outlets and the Geek Squad.  Dunn takes the reins from Anderson at a time where Circuit City, one of Best Buy’s biggest competitors is liquidating all of their stores.  However Best Buy has also been hit by the recession as their revenue dropped by 77%.

Best Buy has about 150,000 employees across the globe.  Many of the corporate employees at Best Buy work on a result-only environment where they can choose whether to work from home or go to the office as long as deadlines are met.  This has worked well for the company as productivity has gone up by 41% and accounts have been reconciled from 120 accounts a year to over 600.

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3 responses to “Brian Dunn To Become Best Buy CEO This Summer”

  1. […] Brian Dunn To Become Best Buy CEO This Summer Amit Chowdhry | Wednesday January 21, 2009 | 1 views […]

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