Two directors resign from Best Buy board

Best Buy Board Directors Resign

One of the more interesting companies to watch in 2013 is Best Buy (BBY), and the show started right from the get-go in 2013. As most people were getting ready to enjoy New Year’s Eve celebrations, this struggling retailer was busy confirming that two key board members were resigning, Reuters reported. Among those leaving Best Buy’s board of directors is G. Mike Mikan, who served as interim CEO between April and September this year after former CEO Brian Dunn resigned amid scandal. Director Matthew Paull is the second departure, and he is leaving in April following his retirement from the role of chief financial officer at McDonald’s in April 2008. Best Buy’s corporate policy indicates that directors must relinquish their board seats within five years of retiring from their primary careers. The struggling nationwide retailer now has four vacant seats on its board.

Source:
Reuters
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