Skip to main content

Best Buy looking for new CFO

Best Buy says its seeking a new chief financial officer after James Muehlbauer announced he was leaving the company. Muehlbauer joined Best Buy in 2002, became interim CFO in 2007 and was given the permanent title last year.
  • Author:
  • Updated:
    Original:

Best Buy says its seeking a new chief financial officer after James Muehlbauer announced he was leaving the company, the Associated Press reports.

Muehlbauer joined Best Buy in 2002, became interim CFO in 2007 and was given the permanent title last year. According to a filing with the Securities and Exchange Commission, Muehlbauer will receive a lump sum payment of $1.4 million as part of his separation benefits.

The personel change comes after Hubert Joly was hired as CEO in late August.

Best Buy's founder Richard Schulze and at least four private equity firms are in the early stages of what could end up being an $11 billion buyout plan.

Next Up

Screen Shot 2022-07-03 at 9.31.25 PM

Boy found in Brooklyn Park; appeal to find his parents

The boy was found shortly before 6 p.m. Sunday.

police tape, crime scene

1 dead, 1 arrested after shooting involving teens in Duluth

A 17-year-old was arrested around 1:45 a.m. Sunday. Neither the victim nor the suspect has been identified.

Screen Shot 2022-07-03 at 1.03.19 PM

NASCAR driver joins MN boy in reclaiming 'Let's go Brandon' slogan

Brandon Brundidge gained recognition when his mother shared the story of how he found inspiration in "Let's go Brandon" signs.

Screen Shot 2022-07-03 at 10.20.27 AM

White supremacist propaganda flyers distributed in Cottage Grove

The department said the flyers have been left in driveways throughout the city.

Screen Shot 2022-07-03 at 9.32.09 AM

6-year-old Northfield girl missing, mother dead of apparent suicide

Anyone who had seen the girl or her mother in the past two weeks should call Northfield police.

Pixabay - jet skis resting

Jet skier injured in explosion on Minnesota lake

The explosion happened on Little Lake 14 in St. Louis County.

Krisit Noem

Kristi Noem's response to 10-year-old Ohio girl pregnant after being raped

Abortion is illegal in South Dakota unless the mother's life is in danger.

police lights

Sheriff: Deputy shoots gun-wielding man in western Wisconsin

One deputy fired on the man, striking him in an unknown area of his body.

Screen Shot 2022-07-03 at 7.28.32 AM

Man found dead in 26 inches of water in Le Sueur County

The 45-year-old was found in near the shoreline on Lake Washington.

police lights

Man arrested after abduction attempt in Bemidji

The incident occurred in Cameron Park on June 25.

betty danger's

Betty Danger's in NE Minneapolis for sale for $4.2 million

The asking price includes the restaurant's ferris wheel, as well as a nearby single-family home.

Related

Report: Best Buy to name new CFO

Best Buy will announce Monday that have hired a new Chief Financial Officer, the Star Tribune reports. A source told the paper that Sharon McCollam, a former CEO and CFO at cookware retailer Williams-Sonoma, will take the CFO position at the Richfield-based electronics retailer.

Another executive leaving Best Buy as profits slide

Ryan Robinson, who serves as Best Buy's No. 2 finance official and chief financial officer of its U.S. business unit, is joining MedExpress as its new CFO. He's among a growing list of executives departing the troubled Richfield-based electronics giant, including International CFO Dave Deno.

Best Buy buying out Carphone for complete control of Best Buy Mobile

Richfield-based Best Buy will spend about $1.6 billion to take complete control of Best Buy Mobile. Bloomberg reports Best Buy will announce the deal to buy Carphone Warehouse Group's 50 percent share on Monday.

Hormel Foods CFO nominated for national award

Jody Feragen is nominated for the CFO magazine Women in Finance Awards. She was named vice president and chief financial officer for the Austin-based food producer in 2007. The awards will be presented May 15.

Best Buy will sell the new Kindle Fire

The new tablet is intended to compete with Apple's iPad -- but at a more attractive price. It's now available for pre-order at Best Buy’s stores and website.

Best Buy is partnering with Google in new online 'circulars'

The search giant is joining with retailers such as Best Buy and Macy's to create Web-based circulars, similar to what appears in your Sunday paper. The service will display custom ads based on your location and search topics. Best Buy hopes the new ads will get Web surfers into their stores. Researchers says the new ads will likely give Google an even greater share of the online ad market.

Best Buy's new boss starts retail gig

Hubert Joly, Best Buy's new new president and CEO, officially joined the troubled Richfield-based consumer electronics giant on Tuesday, the Star Tribune reports. Joly, a native of France, is the first chief executive officer at Best Buy recruited from outside of the company. He most recently led the Minnetonka-based hospitality and travel company Carlson. Joly will begin his new role at Best Buy on the sales floor of several stores in the Twin Cities metro. He tells Reuters, "I want to not learn our businesses from the headquarters. I want to learn from the front line."