Best Buy's CFO Is Out After More Than A Decade

Best Buy

Photo: seanaes via flickr

Best Buy CFO Jim Muehlbauer is leaving the embattled consumer electronics retailer.No reason was given.

The company is now looking for a replacement for Muehlbauer, who will stay until the end of the 2013 fiscal year.

Here’s the press release from Best Buy:

(Thomson Reuters ONE via COMTEX) –MINNEAPOLIS, October 9, 2012 – Best Buy Co., Inc. (NYSE: BBY) announced today that it is conducting a search for a new Chief Financial Officer. Jim Muehlbauer, executive vice president and current chief financial officer, will continue to support the company through the end of the 2013 fiscal year. Muehlbauer joined Best Buy in 2002.

“Jim is leaving Best Buy after more than a decade with the company,” said Hubert Joly, Best Buy’s President and Chief Executive Officer. “We thank him for his many contributions and, of course, wish him well in the future. I have no doubt that whoever we chose to succeed Jim will have his high degree of integrity and passion for our business.”

“I’ve appreciated the opportunity to have served this organisation over the past 10 years and I look forward to supporting a smooth and orderly transition to my successor,” said Muehlbauer.

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