A former Williams-Sonoma chief financial officer, Sharon McCollam, will be CFO and chief administrative officer of Best Buy as it seeks to close stores, beef up online sales, and lift profit. CEO Hubert Joly took over in September as Best Buy resisted buyout overtures from its founder; Joly meets analysts Tuesday to discuss his strategy to revive the chain.
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Ailing Best Buy picks new CFO
Brendan McDermid/Reuters/File 2012
Shares of Best Buy, the world’s largest consumer-electronics retailer, had fallen 35 percent this year through Friday. The company had a $1.2 billion net loss in its latest fiscal year.