Business & Tech
Dunn to Get Multi-Million Dollar Severance Package
Brian Dunn resigned as CEO on April 9 amid a personal conduct investigation and shortly after the company announced it would be closing 50 stores.
Former Best Buy CEO Brian Dunn is set to receive a $6.6 million severance package.
According to CBS Local, the payout includes a 2012 bonus of $1.1 million, stock grants of $2.5 million, a severance payment of $2.9 million and more than $100,000 for unused vacation. The amount is more than double the earlier this month.
The severance announcement came shortly after Best Buy's audit committee released a three-report on its investigation into Dunn's alleged relationship with a female staffer. , however, there was no misuse of company money. The company's found after the investigation found he knew about the affair and neglected to report it.
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According to CNN Money, Dunn cannot take a job with a competitor for three years. The company is still looking for Dunn's replacement, which could take months.
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