A big announcement this morning about a leadership change at Best Buy.
The company’s CEO Brad Anderson, 59, plans to retire in June, the company said. He’ll be succeeded by Brian Dunn, 48, the company’s chief operations officer.
Dunn, like Anderson, got his start at Best Buy decades ago as a store employee. After 23 years with the company he now oversees all domestic stores, the Geek Squad, marketing, customer experience and merchant functions.
Best Buy is currently navigating the most difficult consumer climate it’s ever faced. The challenge, however, did not play a role in Anderson’s decision to retire, he said in the company’s statement.
“I’ve always wanted to leave the organization at the right interlude: when I saw a new leader ready to take the organization to a new level, higher than I could take it myself,” Anderson said. “For many months, I’ve felt that Brian was fully prepared to be CEO.”
The company has scheduled a conference call for this afternoon to discuss the change with investors and analysts.