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Source: Marketing failure sank Best Buy in U.K.

An anonymous executive claims the retailer "got the jitters" and ditched a national TV campaign. But the chief in charge of Best Buy's European operations disputes that.
Author:

An anonymous executive claims the retailer "got the jitters" and ditched a national TV campaign. But the chief in charge of Best Buy's European operations disputes that.

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Best Buy closing all big-box stores in U.K.

The retailer is shutting down all 11 of its big-box stores in the United Kingdom by the end of the year. The company says its rethinking its strategy in Europe after the stores proved to be a drain on its financials. Meanwhile, the retailer also announced that its buying out Carphone's interest in its Best Buy Mobile business as it tries to more fully capitalize on the mobile industry.

Best Buy signs on as NFL sponsor in U.K.

The SportsBusiness Journal reports the Richfield-based electronics retailer will be behind the promotional events leading up to the game between the Chicago Bears and Tampa Bay Buccaneers at London's Wembley Stadium later this month.

Best Buy chief marketing officer resigns

Barry Judge is the third executive to depart the Richfield-based electronics retailer this year. Former Starbucks executive Stephen Gillett is expected to take over his role. The Pioneer Press reports the resignation is not related to former CEO Brian Dunn, who stepped down in April amid an internal investigation. Geek Squad founder Robert Stephens also left Best Buy in March.

Best Buy reconfigures leadership team

The Twin Cities-based retailer has had two executives sharing the presidency. Now Mike Vitelli will oversee U.S. operations, while Shari Ballard will lead Best Buy International.

Best Buy joins crowded computer tablet market

Next month, Richfield-based Best Buy will start selling its own Android-based tablet called Insignia Flex, Reuters reports. The new tablet is expected to be priced between $240 and $260. It will feature a 9.7 inch screen, a dual-core 1 GHz processor and a front-facing camera. Insignia Flex will be exclusively at Best Buy stores on November 11.

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 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.

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Confronted with an extraordinary situation, the board of Twin Cities-based Best Buy did what good corporate governance practices required. It fired the chief executive. As a result, the company is in a mess, the New York Times reports.