Brian Dunn Officially Assumes CEO Position at Best Buy24 Jun, 2009 By: Erik Gruenwedel
Brian Dunn, former president and COO of Best Buy Co., June 24 formally began his new tenure as CEO of the Minneapolis-based No. 1 consumer electronics retailer at its annual shareholder meeting.
The 49-year-old Dunn, who began as a sales associate in 1985 when the retailer operated just 12 stores, succeeds Brad Anderson, who remains vice chairman of the board until his term expires in 2010.
Dunn’s start in the retail trenches perhaps underscores his drive to improve market penetration, employee retention and customer satisfaction scores.
“I have a deep-seated belief in the power of technology to help people and an equally powerful belief in the men and women of Best Buy,” Dunn said in a statement.
His job as CEO comes as Best Buy posted income of $153 million in the most recent quarter — down 15% from the previous year period.