Best Buy: Search for CEO could take up to nine months

Minneapolis -- Best Buy announced that it is creating a committee to run a global search for a new CEO to replace Brian Dunn, who resigned on Thursday. The retailer said the search could take six to nine months to complete.

The committee will be headed by Kathy J. Higgins Victor, a board member and chairwoman of Best Buy's nominating committee. Six search firms will be interviewed and the final search firm partner will be selected in the next few weeks, the chain said in a statement.

The Minneapolis Star Tribune and other media sources reported on Thursday that Best Buy's audit committee is investigating whether Dunn used company resources to carry on an inappropriate relationship with a female staffer.