Best Buy's interim CEO says the electronics seller is operating below its full potential but is committed to changing in fundamental ways.
NEW YORK (AP) - Best Buy's interim CEO says the electronics seller is operating below its full potential but is committed to changing in fundamental ways.
Interim CEO Mike Mikan said at the company's annual shareholder meeting that the electronics retailer plans to expand relationships with small businesses, improve customer service and rethink Best Buy's store model as it tries to improve results. He says more details will be available later this summer.
Coming in the wake of a CEO scandal in April that also led to the resignation of founder and Chairman Richard Schulze, the meeting was relatively sedate and over in about an hour.
There was no update on its search for a new CEO or its recently created $800 million cost-cutting plan.
About 170 people attended the meeting in Minneapolis.
(AP file photo)