Best Buy has released a statement amid the Brian Dunn misconduct fallout that found and chairman Richard Schulze will be resigning as chairman.
The failing electronics wholesaler has been thrust into controversy twofold as they are closing stores left and right, and faced with the PR disaster of the Brian Dunn misconduct circus surrounding his involvement with a female staffer earlier this year.
Schulze has a 20% piece of The Big Blue Box and will be leaving the board as chairman by the meeting on June 21st. Hatim Tyabji will be his successor, and is currently chairman of the audit committee and has been the director of Best Buy since 1998.
“This is a big deal,” said Janney Capital Markets analyst David Strasser. “This makes the decision about who the new CEO is even more critical to the company. Now there’ll be no ‘old-school’ decision makers in charge. The new CEO will come in with complete control over the company.”
The company said its findings came from 45 interviews of 34 current or former employees; searches of emails and other documents on the computers of Dunn and the female employee; and an analysis of expense reports and records detailing Dunn’s corporate use of aircraft, as well as records of his corporate credit card over a three-year period.
Best Buy’s audit committee said that Brian Dunn had to leave the company because he had consumed an inordinate amount of time, to the detriment of the workplace, and at one point he was contacting her up to 224 times a day, with one day making 33 calls as well as 149 text messages to the female staffer.
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