Best Buy CFO Steps Down
In another bump on Best Buy's (NYS: BBY) investor roller-coaster ride, the company announced Tuesday that CFO Jim Muehlbauer will be stepping down after a decade with the electronics chain. He will "continue to support the company" through the end of the 2013 fiscal year, which ends in March.
Muehlbaeur first donned his blue polo shirt in 2002, and has held the CFO post since 2008.
The news comes at a precarious time for Best Buy. Its founder Richard Schulze is considering a buyout, even as the company continues to lay off workers and analysts question the viability of Best Buy's big-box retail model.
"I've appreciated the opportunity to have served this organization over the past ten years and I look forward to supporting a smooth and orderly transition to my successor," said Muehlbauer in a company press release which gave no reason for his departure.
Best Buy is currently conducting a search for a new CFO.
The article Best Buy CFO Steps Down originally appeared on Fool.com.Justin Loiseau has no positions in the stock mentioned above. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool owns shares of Best Buy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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