There's little Dunn has been able to do since he took the reins in 2009 to transform the company's image as a "showroom for Amazon (AMZN)." As a result, 34.8% of voters said he should be fired in the new year.
A shame, since Dunn is a Best Buy lifer, having started his career with the electronics retailer in 1985.
Dunn has been unable to revitalize the big-box format even with its biggest rival, Circuit City, out of the picture.Last week, Best Buy reported a 29% plunge in third-quarter earnings, with gross margin falling by nearly a percentage point from the year prior due to aggressive promotions and discounts during the Black Friday weekend. But these discounts did little in the way of revenue, with same-store sales up just 0.3%. To keep his job, Dunn will need to resort to a more dramatic restructure of Best Buy's business model. The company has closed its namesake stores in China and has ended its pilot of big-box stores in the U.K. Best Buy is also reducing its square-footage in the U.S. by 10% over the next three to five years. Shares of Best Buy have declined more than 33% year to date; the stock has fallen more than 40% during Dunn's tenure. Sears' (SHLD) Lou D'Ambrosio came in second in the poll with 34.8% of the vote; Gap's (GPS)Glenn Murphy received 31.2%; Pacific Sunwear of California's (PSUN) CEO Gary Schoenfeld received 10.5%; and Aeropostale's (ARO)Thomas Johnson got 6.4%. -Reported by Jeanine Poggi in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.
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