Best Buy named a committee Friday to search for the company's next chief executive following an internal investigation and sudden departure of CEO Brian Dunn last week.
Among those under consideration is interim CEO Mike Mikan.
Mikan took over after the Best Buy said it was looking into Dunn's personal conduct in a matter unrelated to "operations or financial controls." That investigation goes on.
The Star Tribune in Minneapolis and The Wall Street Journal, citing people familiar with the matter, reported the alleged misuse of company funds while carrying out a relationship with a female subordinate.
Dunn was a 28-year company veteran who had been head of Best Buy since 2009.
The company on Friday released a video in which Mikan addresses the company's 170,000 employees in a video.
"I know these have been difficult days at Best Buy," Mikan says in the video, and went on to discuss the company's reasons for closing 50 stores and trimming $800 million in costs, plans first announced in March.
Mikan was once the executive vice president and chief financial officer of UnitedHealth Group Inc. and also the chief executive officer of Optum, a health care services company affiliated with UnitedHealth
The search committee announced Friday was drawn from company's board of directors and includes Lisa Caputo, Ronald James and Sanjay Kholsa. The company announced last week that Kelly J. Higgins Victor, a director, would oversee the committee.
Separately, Best Buy announced the retirement of Rogelio M. Rebolledo, a director since 2006. It is a routine membership change in accordance with a board policy that non-management directors step down within five years of retiring from their primary career, the company said. Rebolledo retired as chairman of PBG Mexico, the Mexican operations of The Pepsi Bottling Group, in 2007.
Shares of Best Buy Co. dipped 32 cents to $21.68 in afternoon trading.