Best Buy can't ignore customer concerns about CEO change, finances

At the end of last month, Best Buy said it will close 50 of its US big-box stores, and yesterday the company's CEO, Brian Dunne, resigned from his role.

At the end of last month, Best Buy said it will close 50 of its US big-box stores, and yesterday the company's CEO, Brian Dunne, resigned from his role.

With the upcoming store closings, the company will cut 400 corporate jobs, saving $800 million. However, Dunne said at the time that Best Buy would open 100 smaller stores in their place to save money but maintain convenience for customers.

Best Buy also reported a loss of $1.7 billion in its fourth quarter, and a loss of $1.2 billion for its 2011 fiscal year.

Now with the resignation of Dunne, who said his departure was based on a “mutual agreement” with the company, Best Buy is hitting more turbulence. Until it names a new CEO, director Mike Mikan will serve as interim chief executive.

A Best Buy representative wasn't immediately available for comment about Dunne's resignation or the store closings.  

And while the company has talked a little bit to the media about its recent issues, it hasn't posted anything on its Facebook page, despite the fact that fans have written messages and asked questions about Dunne's departure. Best Buy's Facebook page has more than 5.8 million “likes.”

To handle all of the changes, Best Buy should interact directly with its customers, especially considering its financial struggles. Company representatives should consider answering questions online via Facebook or Twitter to ease customer concerns. Or perhaps its interim CEO should host a webcast to talk about the company's issues and what it is doing to fix them.

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