Best Buy chief executive resigns

Best Buy Co (BBY.N) said its chief executive Brian Dunn has resigned from the world's largest consumer electronics chain, as the company looks to please investors looking for change at the top.

The company, which faces stiff competition from discounters and online retailers, has missed sales expectations for several quarters in a row.

Best Buy said director Mike Mikan will serve as interim chief executive while it looks for a permanent replacement for Dunn. Mikan, who will remain on the board while serving as interim chief, has been a Best Buy director since April 2008. He formerly served as executive vice president and chief financial officer of UnitedHealth Group.