(MINNEAPOLIS) — When Brian Dunn announced on Tuesday he was stepping down as CEO of Best Buy, it appeared to be related to the company’s financial struggles as a big box retailer.
But a statement released later that day by Best Buy shows Dunn’s resignation came after the company launched a probe into his personal conduct.
“Certain issues were brought to the board’s attention regarding Mr. Dunn’s personal conduct, unrelated to the company’s operations or financial controls, and an audit committee investigation was initiated,” the statement read. “Prior to the completion of the investigation, Mr. Dunn chose to resign.”
The company did not give any further details on its inquiry.
Earlier Tuesday, Best Buy said: “There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures. There was mutual agreement that it was time for new leadership to address the challenges that face the company.”
Board director G. Mike Mikan was chosen to serve as the interim CEO while the company looks for a permanent replacement.
Copyright 2012 ABC News Radio
Paul Menser, BizMojo Idaho
Matt McFarland, CNN