Former Best Buy CEO Brian Dunn, tops Sydney Finkelstein 's annual list of the worst CEOs. Finkelstein is a management professor at Dartmouth College's Tuck School of Business. This morning on Morning Edition he explained why Dunn took the top spot:
Well, Brian Dunn has been at the helm of the company for several years and Best Buy has been in a free fall. The stock is way down, their cash is down, their same-store sales are down. And the problem is that people walk into Best Buy, look at the products, look at the TVs and take a few notes and then go home and go on Amazon and buy it at a cheaper price. And the solution that Brian Dunn has tried to come up with has really not worked. He's focused on trying to sell more expensive products, he hasn't tried to fix customer service and he certainly hasn't tried to fix the online part of the business. And unfortunately, to top it all off, he got himself into a bit of trouble in an alleged affair with a 29-year-old subordinate, and that probably was the final straw that broke the camel's back.
For more sucky CEO's: Listen to the entire interview or read the list.