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Best Buy says CEO resigns

Best Buy Co CEO Brian Dunn resigned abruptly on Tuesday amid what the company described as a probe into his "personal conduct," adding to the woes of the slumping consumer-electronics retailer, whose big-box business model is crumbling.

"Certain issues were brought to the board’s attention regarding Mr Dunn’s personal conduct, unrelated to the company’s operations or financial controls, and an audit committee investigation was initiated," the company said in a statement. "Prior to the completion of the investigation, Mr Dunn chose to resign."

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(Source: The Wall Street Journal Online)