Like any good mystery, the sudden departure of a company chief often creates a trickle, trickle of revelations. So, too, with the story behind the departure of Brian Dunn as chief executive of Best Buy.
According to the Minneapolis Star-Tribune, Dunn, 50, resigned earlier this week due to an "inappropriate relationship" he had with a female subordinate. Bloomberg reported that people close to the company were concerned that Dunn's behavior was threatening the company.
Whatever the outcome of this saga, Dunn isn't alone in losing his job over allegations of poor personal choices. Stephen MacMillan, former chief executive of the medical-device maker Stryker Corp., former New York state Governor Eliot Spitzer and Tea Party presidential hopeful Herman Cain have similarly had their careers derailed.
Best Buy wouldn't comment on allegations about Dunn, a married man with three children, because a company investigation is underway, said Ron Hutcheson, a spokesman at the public relations firm Hill+Knowlton Strategies, which represents Best Buy's board of directors and is handling media inquiries surrounding Dunn's resignation.
"The results of the investigation will be made public and if any further action is warranted, it will be taken," Hutcheson told FINS.
Related: Dunn's Performance Review at Best Buy
Sales Buzz
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The New York-based sporting goods chain Modell's added ecommerce merchandising to the responsibilities of Charles Castaneda, senior vice president of planning, allocation and replenishment. Todd Smyth becomes vice president and general merchandise manager of the licensed product division.
Bergerac's New Gig (Retailing Today)
Michele Bergerac, a former merchandise manager for the discount apparel chain TJX, has been named general merchandise manager for Payless ShoeSource's women's and accessories businesses. Payless is a division of the Topeka, Kan.-based Collective Brands.
It's All in the Name (Sales Machine)
Marketing is key to sales. If you don't want your prospects to laugh at you, come up with business, product and website names that hint at your ability to produce results, says Sales Machine.
Marketing Buzz
TraveLodge Turnover (Marketing Week)
Guy Parsons, TraveLodge's chief executive, is stepping down following a financial restructuring of the U.K.-based budget hotel chain. Grant Hearn, the company's CEO from 2003 to 2010, will resume the role.
Poor Katzenberg (WSJ)
Jeffrey Katzenberg, chief executive of DreamWorks Animation, saw his total compensation for 2011 drop 40% to $4 million.
Mandala Out (Adweek)
Steve Mandala, one of NBCUniversal's top sales executives, left the media and entertainment company and won't be replaced, sources told Adweek.
Buzz Around the Office
That is one angry customer.
List of the Day: Meeting Madness
Whether the meeting is five minutes or 50, here's how to get through it efficiently.
1. Stop checking your phone. You only look bored.
2. Stick to the agenda.
3. Send emails afterward to ensure everyone knows their task.
(Source: Glassdoor.com)
