Best Buy CEO Brian Dunn resigns
Minneapolis — In a surprise announcement, Best Buy Co. said Tuesday that CEO Brian Dunn has resigned from the company. Company director G. Mike Mikan has been named interim CEO. Richard Schulze, the founder of Best Buy, continues to serve as chairman.
The change was a “mutual agreement” that new leadership was needed, Best Buy said in a statement, and there were no disagreements or specific problems related to the electronic retailer’s operations, financial controls or procedures A committee of directors has been created to search for a new CEO.
“I have enjoyed every one of my 28 years with this company, and I leave it today in position for a strong future,” said Dunn.
Dunn’s announced departure comes only two weeks after Best Buy unveiled its intentions to close 50 of its U.S. big-box stores and open 100 smaller-format mobile stores.
Best Buy last month posted a $1.23 billion net loss for its fiscal 2012, its first annual loss in more than two decades, as sales rose less than 1%.
Safeway promotes CFO to president
Pleasanton, Calif. — Safeway announced Monday that it has promoted its executive VP and CFO Robert Edwards to the position of president.
Edwards has held his current role since 2004. He will have overall responsibility for the company’s retail operations, marketing, merchandising, corporate brands, manufacturing, distribution and finance functions, and will continue as CFO until a successor is named to the position.
In other company executive news, Safeway said that executive VP Larree Renda will add real estate and information technology to her roles, as well as managing human resources and labor relations, strategic initiatives, corporate social responsibility, government relations, public affairs and Safeway Health.
Container Store to implement Alliance database marketing
Dallas — The Container Store said Tuesday it has enlisted Epsilon, a subsidiary of marketing solution-provider Alliance Data Systems Corp., for comprehensive data and database marketing services.
The services are designed to fuel marketing efforts to acquire and retain customers and increase sales.
Under the terms of the new multiyear agreement, Epsilon will host and manage The Container Store’s marketing database supporting the company’s communications with its customers through permission-based email, direct mail and social media channels. In addition, Epsilon will provide strategic consulting and advanced analytics to create customer segmentation models based on specific criteria and behaviors to better identify and target customers with useful information and offers.
“As we continue to expand, it’s increasingly important to nurture our existing customer relationships, develop new loyal customers and improve the quality of these interactions,” said Lucy Witte, VP direct marketing and media, The Container Store. “Partnering with Epsilon will help us create more valuable relationships, target customers and prospects effectively and drive repeat visits and purchases. These initiatives will also enable us to speak to our customers in the way that they want to be spoken to.”