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Best Buy brings in new CFO

Investor's Business Daily

The electronics giant brought in retired Williams-Sonoma (WSM) executive Sharon McCollam as CFO. She replaces James Muehlbauer, who earlier said he was leaving. It was the latest in a series of moves by turnaround specialist Huber Joly, named CEO in August. Best Buy (BBY) is struggling due to economic weakness and competition from low-cost rivals. Best Buy co-founder Richard Schulze is said to be mulling a bid to take the company private, a topic likely to come up at a meeting with analysts Tuesday. Shares rose 3.6% to 15.85.