Former Best Buy exec new president of ESL Investments

NEW YORK — ESL Investments has appointed G. Mike Mikan as its new president. Mikan will report to Edward S. Lampert, founder, chairman and CEO of ESL Investments.



Mikan held various executive positions throughout a 14-year period at UnitedHealth Group, including serving as EVP and CFO, as well as CEO of its Optum subsidiary. Mikan has served on the board of directors of Best Buy Co. since 2008. He was appointed Best Buy’s interim chief executive in April 2012, and served until September 2012.



“Mike is a proven business leader who has a great track record of driving operating performance and a diverse background spanning operations, finance and strategy,” said Lampert, who is also chairman of Sears Holdings Corporation. “Mike's background fits with our strategy and he will be a great asset to me and to ESL's portfolio companies.”



“I have a great deal of respect for Eddie and the world-class investment firm he has built. ESL's philosophy of making long-term investments in companies and working with managements fits with my experience and passion in helping companies grow their businesses and reach their potential through operational excellence,” Mikan said. “I look forward to partnering with Eddie and the team at ESL."