Richard Shulze, the founder of Best Buy is leaving his role as company chairman, after an independent investigation found he had failed to report allegations of personal misconduct by former CEO Brian Dunn to the board’s audit committee.
Best Buy also said the investigation found that Dunn violated company policy by “engaging in an extremely close personal relationship with a female employee that negatively impacted the work environment,” reports Reuters. However, there appears to have been no misuse of company resources.
Dunn already made his exit on April 10, amidst the probe of his actions, which, at the time, were categorized as “personal misconduct.”
The new chairman will be Hatim Tyabji, chairman of mobile network software company Bytemobile and chairman of Best Buy’s audit committee, starting on June 21 at the company’s annual meeting.