Best Buy CFO Departing

10 Oct, 2012 By: Erik Gruenwedel

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Jim Muehlbauer is the third senior executive to leave the CE chain this year

Best Buy Co. said a search is under way to replace longtime CFO Jim Muehlbauer, who is leaving the consumer electronics chain at the end of the fiscal year.

Muehlbauer, who joined Minneapolis, Minn.-based Best Buy in 2002, is exiting on the heels of newly arrived CEO Hubert Joly. He is the third senior executive to depart following the resignations of chairman and founder Richard Schulze and former CEO Brian Dunn earlier this year.

Schulze is currently analyzing Best Buy’s books as part of a due diligence process in what is expected to be a leverage buyout offer for the CE chain.

“Jim is leaving Best Buy after more than a decade with the company,” Joly said in a statement. “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.”

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