Best Buy names company veteran CEO

Consumer electronic retailer Best Buy has named Brian Dunn, the company's president and COO, as CEO effective June 24.

Dunn, 48, will succeed Bradbury Anderson, 59, vice chairman and CEO, who will retire as CEO in June. Dunn, who began with the company in 1985, also will be appointed to the company's board of directors.

In his current position, Dunn is credited with driving the company's domestic business to new highs in terms of market share, employee retention, vendor relationships and customer satisfaction scores, as well as with launching the company's northeast territory.

He was named president and COO in 2006.

“Brian has demonstrated a rare ability to connect with people and inspire them to work together to accomplish extraordinary things,” said Richard Schulze, chairman of Best Buy, in a statement. He is “a product of — and a steward of — a unique culture at Best Buy that continues to drive the company's performance.”