• Brian Dunn, the CEO of Best Buy, resigned yesterday under a cloud of an internal investigation into his “personal conduct.”
The Wall Street Journal reports that the company said in a statement that “certain issues were brought to the board's attention regarding Mr. Dunn's personal conduct, unrelated to the company's operations or financial controls, and an audit committee investigation was initiated. Prior to the completion of the investigation, Mr. Dunn chose to resign."
The Journal also notes that Dunn “was a rare CEO in modern American retailing: a onetime store salesman who worked his way to the top over nearly three decades at the same company. He never attended college, joking that he went to the ‘university of retail’.”
• Bloomberg BusinessWeek reports that Mary Winston, CFO at Giant Eagle, is leaving the company to join Family Dollar Stores, where she will succeed Kenneth Smith as CFO. Smith is stepping down after 22 years with the company.
The Wall Street Journal reports that “Avon Products Inc. has named Johnson & Johnson executive Sherilyn S. McCoy as its new chief executive, one week after the company turned down a $10 billion takeover proposal from rival Coty Inc.”
The Wall Street Journal reports that the company said in a statement that “certain issues were brought to the board's attention regarding Mr. Dunn's personal conduct, unrelated to the company's operations or financial controls, and an audit committee investigation was initiated. Prior to the completion of the investigation, Mr. Dunn chose to resign."
The Journal also notes that Dunn “was a rare CEO in modern American retailing: a onetime store salesman who worked his way to the top over nearly three decades at the same company. He never attended college, joking that he went to the ‘university of retail’.”
• Bloomberg BusinessWeek reports that Mary Winston, CFO at Giant Eagle, is leaving the company to join Family Dollar Stores, where she will succeed Kenneth Smith as CFO. Smith is stepping down after 22 years with the company.
The Wall Street Journal reports that “Avon Products Inc. has named Johnson & Johnson executive Sherilyn S. McCoy as its new chief executive, one week after the company turned down a $10 billion takeover proposal from rival Coty Inc.”
- KC's View:
