Best Buy president to become company CEO


January 22, 2009 at 12:00a.m.

Best Buy president to become company CEO

CHICAGO — Best Buy Co. Inc. laid out a succession plan Wednesday, saying Brian J. Dunn, its president and chief operating officer, will take over this summer as chief executive of the nation’s largest consumer electronics chain. The 48-year-old, who began working at the company as a store clerk in 1985, will succeed retiring CEO Brad Anderson, 59.

Eaton Corp. of Cleveland to cut 5,200 more jobs

CLEVELAND — Industrial parts and systems maker Eaton Corp. said Wednesday it is cutting an additional 5,200 jobs because of a drop in demand for its products within a global economic downturn.

The move is intended to help the company reduce costs by $125 million in 2009 and follows 3,400 job cuts last year.

All told, Eaton has cut back its employment level globally by about 10 percent, down from a high of about 80,000. The new cuts will include about 60 from the company’s home base in Cleveland.

Associated Press