Best Buy announced the results of an internal investigation against its former CEO Brian Dunn.

In March, there have been allegations of a rather inappropriate affair between Dunn and a female employee of the company. The retailer said that it has concluded the investigation for which it hired outside law firm WilmerHale and found "extremely poor judgment and a lack of professionalism" shown by its former CEO.

Dunn, who resigned in April following the allegations, is said to have had "an extremely close personal relationship with a female employee that negatively impacted the work environment". On a positive note, Dunn did not misuse company resources and resisted taking the company's jet to support his affair.

Best Buy also found that the company's chairman Richard Schulze "acted inappropriately when he failed to bring the matter to the Audit Committee of the Board of Directors in December 2011, when the allegations were first raised with him." Schulze defended himself in a public statement stating that he told Dunn that his relationship with a coworker was "totally unacceptable".

Nonetheless, Best Buy will replace Schulze as a result of the findings with Hatim Tyabji, who currently serves as a director on Best Buy's board. Schulze will assume the title of founder and chairman emeritus, which is an honorary position. He will also keep a position of director until June 2013.