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Best Buy CFO to leave, latest executive departure

Oct. 10, 2012 @ 07:04 AM

Best Buy CFO to leave, latest executive departure

MINNEAPOLIS (AP) -- Best Buy said Tuesday that its chief financial officer is leaving, the latest executive departure for the struggling electronics chain.

The news comes as Best Buy's founder and former chairman Richard Schulze mulls an offer for the company, which is attempting to improve results amid tough competition.

Best Buy says it is seeking a new chief financial officer to replace James Muehlbauer. Muehlbauer, who joined Best Buy in 2002, became interim CFO in 2007 and was named to the post permanently the following year.

He will continue to advise the company until the end of the 2013 fiscal year, which ends Feb. 3.