Valspar hires ex-Best Buy CFO Muehlbauer

Author:
BMTN Staff
Updated:
Mar 8, 2018
Original:
Mar 4, 2013

James Muehlbauer will join Valspar Corp. as its new chief financial officer next week, according to a company news release. He replaces Lori Walker who will retire sometime next month. She announced her plans to leave the Minneapolis-based maker of paints and industrial coatings in November.

“We’re pleased to have such a strong leader join our company,” Gary E. Hendrickson, chairman and CEO, said in statement. “Jim’s expertise in growing large global enterprises and his hands-on business experience in retail and consumer brands make him an excellent addition to our management team. Jim will play a significant role at Valspar as we pursue long term strategic growth opportunities.”

He will be responsible for all aspects of global finance, strategic planning, corporate development, information technology and communications.

Muehlbauer, 51, stepped down as Best Buy's CFO last fall. The troubled Richfield-based consumer electronics giant hired former Williams-Sonoma CFO Sharon McCollam in November.

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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.

Minneapolis-based Target and Richfield-based Best Buy closed roughly 200 stores on the east coast because of Hurricane Sandy on Monday. Eden Prairie-based Supervalu closed about 20 of its Acme Market stores.

Best Buy's new Chief Executive Officer Hubert Joly outlined his five-point strategy, called "Renew Blue," to turn around the Richfield-based consumer electronics chain before he met with Wall Street investors in New York Tuesday afternoon, the Business Journal reports.

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