Best Buy Chairman steps down after CEO probe

The company also said that despite the fact that its audit committee found that then-CEO Brian Dunn violated company policy by having a “close personal relationship” with a female employee, he gets a severance package worth about $6.6 million. Best Buy hired an outside law firm in March to investigate Dunn, who resigned in April. The committee found that Dunn's relationship with a female employee that showed poor judgment. But they found he did not misuse company resources or company aircraft related to the relationship. Still, the inquiry showed that Schulze, who has been with the company since its inception in 1966, acted inappropriately when he found out about the relationship. He is resigning and will be replaced by Hatim Tyabji, chairman of its audit committee. Schulze will receive the title chairman emeritus, an honorary position, and serve out his term as director through June 2013.