Best Buy Names New CEO
Minneapolis Best Buy Co. said Wednesday it named president and COO Brian J. Dunn as the chain’s new chief executive effective June 24.
Dunn, 48, will replace Best Buy’s current CEO, Bradbury H. Anderson, 59, who is retiring. The company said Dunn will also be named to its board of directors and stand for election at the 2010 meeting of shareholders.
Dunn became the company’s president three years ago. He began as a store associate in 1985, when Best Buy operated just a dozen stores, and has held several executive roles since.
Best Buy said Bradbury will complete his term as vice chairman after he steps down June 24, which is the scheduled date for the company’s regular meeting of shareholders.
Best Buy said it had not yet chosen who will succeed Dunn as president and COO.
The news comes at the company, similar to many retailers, suffered through a tough holiday season and is cutting back its growth to save capital and adjust to the current economic conditions.
Publix to Open 1,000th Store
Lakeland, Fla. Publix plans to open its 1,000th store next month at the Shoppes at Murabella in St. Johns County, Fla.
The 54,000-sq.-ft. store will open Feb. 5 and will include a pharmacy, bakery, deli, and floral and seafood departments. It will employ about 115 workers.
Family Dollar Elects New Board Member
Matthews, N.C. Family Dollar Stores announced that Pamela L. Davies was elected to its board of directors at its annual meeting of stockholders held on Thursday.
In addition, all incumbent directors were re-elected at the meeting.
Davies is currently the president of Queens University of Charlotte. Davies also serves on the boards of Charming Shoppes, Inc.; C&D Technologies, Inc.; and Sonoco Products Co.