Brian Dunn climbed the corporate ladder at Best Buy, eventually finding himself at the top of the food chain in 2009 when he took over as CEO. Unfortunately, for this rags-to-riches poster-boy, his reign has come to an end. Dunn and BBY announced today that the long-time employee will be stepping down from his position as chief executive and will be replaced in the interim by board member Mike Mikan. The big box retailer said in a statement that the agreement was mutual and the decision had nothing to do with any disagreements with Dunn regarding "operations, financial controls, policies or procedures." However, with the company struggling so mightily, it's hard to believe that rash of store closings and poor fiscal performance are unrelated to the decision that it's "time for new leadership." Full PR after the break.
Update: According to the Wall Street Journal, the company has stated his resignation took place during an investigation into "certain issues" with Dunn's personal conduct.