Best Buy CEO: Company is committed to change

Richfield, Minn. -- The interim CEO of Best Buy told shareholders Thursday that the company is committed to changing its fundamentals in order to operate closer to its potential.

Mike Mikan is trying to right the electronics retailer’s ship as it attempts to recover from the sudden – and unseemly – departure of CEO Brian Dunn as well as the ensuing resignation from chairman and founder Richard Schultz over the last two months.

At the company’s annual meeting, Mikan, who is vying for the CEO role permanently, suggested that Best Buy is planning to expand relationships with businesses, improve customer service and training, as well as rethink Best Buy's store model.

Although few details were given, it is expected that more information will be distributed by the end of the summer.

"We have to invest in employees by giving them more training and better tools to maximize what they can offer for our customers," Mikan said during the meeting. Best Buy announced plans to train 50,000 staffers at a training center at its headquarters between August and the holidays.