logo
Share SHARE
FONT-SIZE Plus   Neg

Best Buy (BBY) Dropped To A New Low Following CEO Resignation

Best Buy (BBY) announced Tuesday that Chief Executive Officer Brian Dunn has resigned from the position and as a director, effective immediately. He leaves the company after serving it for the past 28 years. The company said Director Mike Mikan will replace Dunn as the interim CEO, while it initiates a search for a new CEO.

Best Buy fell sharply in the first 45 minutes of trade Tuesday and slipped further late in the afternoon. The stock ended the session lower by 1.33 at $21.32 on strong volume. Best Buy has been declining for the past 2 weeks and set a new low for the year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
RELATED NEWS
Trade BBY now with 
Follow RTT