Monday, July 9, 2012
The company announced Friday that it would cut more jobs as part of its turnaround efforts.
After announcing it would layoff more than 600 Geek Squad employees nationwide late last week, Best Buy confirmed 1,800 other store workers would also be cut. The announcement came Friday. According to Business Week, Best Buy spokesman Bruce Hight said the layoffs are part of the company's "ongoing turnaround plan." In March the company confirmed it would close 50 U.S. Stores after another quarter of downed profits and shortly after saw its CEO, Brian Dunn, resign admid a personal conduct investigation. Since March Best Buy has also vowed to trim corporate employees and cut $800 million in costs over the next three years. A handful of other high-level executives have also left the company, with Best Buy's founder, Dick Schulze, stepping …
Friday, June 22, 2012
Mike Mikan said the company is committed to change at the annual meeting Thursday.
During Best Buy's annual shareholder meeting Thursday, interim CEO Mike Mikan said while the company had a lot of work to do, it was "on track" to meet its annual plan. According to MPR, Mikan promised shareholders aggressive cost-cutting initiatives over the next couple years and more innovation, recognizing the company was slow in responding to changes in the market. The company has lost sales to Amazon.com and Apple Inc. and Mikan believes improving the in-store and online shopping experience is necessary. In addition, like the Richfield flagship location, many stores will be downsized. "Total square footage will go down as we make decisions about the best use of resources," Mikan said. "But as we assess opportunities, our total number …
Monday, May 21, 2012
The company has been looking for a new CEO since Brian Dunn resigned April 9, 2012.
The Best Buy Board of Directors Search Committee announced Spencer Stuart would conduct the search for a new company CEO Monday morning. According to a company press release, the firm will consider both internal and external candiates and was selected for "its global expertise and experience recruiting for retail and digital companies." Mike Mikan has been serving as interim CEO since Brian Dunn resigned in early April during a personal conduct investigation and shortly after the company released its fourth quarter numbers. The search committee was charged with finding the next company CEO in mid-April and is headed by Kathy J. Higgins Victor and other independent directors. Other articles on this topic: Sign up for the Richfield Patch …
Friday, April 20, 2012
External and internal candidates will be considered as Brian Dunn's successor.
Best Buy's board of directors announced it was putting together a committee charged with finding former CEO Brian Dunn's replacement Friday. Dunn resigned last week amid a personal conduct investigation with allegations that he had used company funds to pursue an inapprorpiate relationship with a female staffer. Dunn rose to the CEO position in 2009 and spent nearly 30 years with the company. According to a company press release, the search committee is headed by board member Kathy J. Higgins Victor, who will hire a search firm to identify external and internal candidates, including interim CEO Mike Mikan. The chosen firm will be announced in coming weeks. A Bloomberg Business article named board members Lisa Caputo, Ronald James and …
jamzie
1:48 am on Monday, August 13, 2012
i as showrooming online price higher than store! i want hp laptop, phillips tv, not in store , 2 blocks from me! i can drive 10/20 miles to get what i whant, but not! so s more ›