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Best Buy to Continue Probe of Ousted CEO
11 Apr 2012 EDT - CNBC.com
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As Best Buyworks on hashing out the terms of CEO Brian Dunn’s resignation, speculation continues about who ultimately will lead the electronics retailer.

Dunn abruptly resigned on Tuesday after Best Buy began investigating allegations of personal misconduct.

Best Buy spokesman Greg Hitt said Dunn's resignation has "certainly had an effect on the investigation, but the investigation remains open."

In a filing with the Securities and Exchange Commission Wednesday, the company said G. Mike Mikan, a board member who was chosen to serve as an interim CEO while the company searches for a permanent successor, will remain on the board, but will step down from the board’s audit and compensation committees.

In an interview on CNBC’s "Squawk Box," Jeffrey Sonnenfeld , a senior associate dean at the Yale School of Management, said that boards have a duty to quickly investigate charges of misconduct and address them.

“This happens sadly periodically, and boards that cover it up make a huge mistake,” Sonnenfeld said. “It’s an issue of trust, of integrity. If you can’t set the model at the top, you really can’t enforce it cascading down through the organization.”

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