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Best Buy's Brian Dunn is the worst CEO of 2012, according to Bloomberg

Poor performance and scandal combined with a rough environment for big box retailers equals the worst CEO of the year.
Poor performance and scandal combined with a rough environment for big box retailers equals the worst CEO of the year.

A couple months ago, Bloomberg Businessweek did a cover story where Best Buy was characterized as a "Big Box Zombie." Now, Bloomberg is dinging former CEO Brian Dunn for being one of the people primarily responsible for the company's zombified state.

SEE ALSO: Best Buy CEO Brian Dunn: Is this his mystery woman? [PHOTO]

In "The Worst CEOs of 2012," Dartmouth business professor and author Sydney Finkelstein puts Dunn at the top of his third-annual list of the worst executives in the world.

Here's what the piece has to say about Dunn:

1. Brian Dunn, who resigned as chief executive of Best Buy (BBY) in April after allegations surfaced that he had an inappropriate relationship with a much younger subordinate. That's not why he's on the list, though. Declining stock price, cratering same-store sales, loss of market share to more nimble competitors, and an addiction to share buybacks that cost the company $6.4 billion with little to show for it--that's why he's on the list.

Dunn resigned in April , just over a week after an announced $1.7 billion loss prompted Best Buy to develop a plan to close 50 stores and cut 400 jobs . Though the company's rough shape by itself would've been enough to justify his ouster, days after he resigned it emerged that Dunn was carrying on an inappropriate relationship with a female staffer .

By August, profits were down 90 percent, and Best Buy's board is still in buyout talks with founder Richard Schulze, so it's not like the braintrust that succeeded Dunn has fared a whole lot better.


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