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Former Best Buy CEO Brad Anderson on the resignation of Brian Dunn and its impact on the company.
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That's where -- subsystems like five years says this is really bad -- averted management shake up at -- vice.
His predecessor joining me now former Best Buy CEO Brad Anderson Brad always great having you.
Thanks me appreciate it do we know oh what kind of personal accountability and -- because they dig dig went out of -- way to say.
This -- not -- it would dozens of them -- within financial matters so what the heck is it.
I don't I don't know I mean at this point I don't know much better today my remarks I -- you know leveraging.
I know what the rumors are but I'm sure as -- not gonna suggest where a rumor is on TV but -- -- means.
Not business it means something personal is -- Michael -- top -- HP stuff but what.
The I don't know.
-- it is the only thing that makes sense in relation well I I -- room.
OK I know too but I'm not going to repeat it.
All right -- but if I'm thinking.
When a company gets involved investigating this they're afraid about how -- boomerang on said company that was the case of -- Does best -- have some legal things to be worried about.
Yeah whenever something like this happens you've got.
What -- if if the issue like HP.
Then you've got employees have been and there who have been potentially damage and implicated you have whatever the report coming to the board.
So there's legal liability for the board there's legal liability for the company -- his legal liability for executives.
And then it's also how it was handled by the company what is it wasn't -- -- -- yet.
Exact score for that -- the magnitude of what it is but again until we know formally exactly what it is it's speculative.
All right armed.
Here is what I'm one minute -- now I and and it got done to did not to the -- -- you would talk -- you.
But he was sort of like.
Up from your bootstraps have to guide ever went to college -- his mom -- one of the earliest employees at best five.
He himself went up through the ranks it you'll notice some early on as a promising young -- that sort of thing.
But -- if it's going to make Best Buy in the future other companies now.
Go slow.
On on promoting those who are sort of outside.
They're traditional.
But it Petri dish -- of CEO candidates.
I don't think so because even if it's what's being may -- alleged here is the problem it won't be just something that somebody outside the Petri dishes done.
And I you know -- -- to work with Brian for 25 years and if this is true -- I'm -- and didn't see anything like this at least in terms of I was aware of in the years that I work with Brian.
I don't think this is an issue of whether or not -- polished this is just a human.
Issue of human fallibility and and and terrible choices.
But it -- our -- -- human fallibility would company funds are involved but I guess that's really the only issue.
We're debating why not diminishing I'm not diminishing either they.
Consequence or of responsibility for those for for this at all.
I'm just saying I don't think it has anything to do -- how polished you are.
I think -- -- -- hear right Bradley we guided not be in the senate leaders there and in their -- -- polish people who -- -- And and and yeah from the -- and still be a -- So I'm not saying and -- -- visitors somewhat but do you not -- will give companies -- laws.
To make sure let's go back to our normal pecking order here.
I think it I think what a lot of this does is it is it reinforces how significant.
And I -- and an.
How important.
Commitment to the real objectives of the enterprise are.
And how -- how significant that is is finding leaders who are authentically deeply committed to what the enterprises objectives are and its customers and if this behavior turns out to be true this is stuff that is definitely I it's antithetical to the employees and it's antithetical to the shareholders.
And it's antithetical to the customers -- of the of the company.
And -- all of us are capable of major failings in life but.
It reinforces.
I heard Harvard -- -- when the Enron guys -- That maybe they needed about it because so many -- Harvard that they they needed a better ethics course.
This gets down -- substantive.
Behavior that we have to really look at our executives -- we have about iron hand out.
There's not a lot of room for tolerance especially when you get and in these particular jobs with this much responsibility Barbara senators -- -- an exception in this business.
But -- you need to take.
And ethics course it's already -- -- -- and I couldn't agree with you more time.
All right thank you my friend it's great having you again thank you Brad Anderson another former Best Buy CEO.
The real to.
