Best Buy

By Mark Williams, Best Buy

In August, we at Best Buy announced that we were joining a cadre of other major retailers in an effort to build a mobile-commerce solution that can improve shopping and paying for customers and merchants alike.

Minneapolis -- Best Buy Co. said Tuesday that CFO James Muehlbauer has resigned the company. He will continue in an advisory capacity until Feb. 3.

The retailer said it has launched a search for a permanent replacement.

Muehlbauer’s resignation is the latest in a string of executive departures for Best Buy, and comes as founder and former chairman Richard Schulze mulls an offer to buy the company.

Chicago -- Brightstar Corp., a global provider of diversified solutions for the wireless device industry, announced that the company has been selected by Best Buy Co. to manage the retailer's entire inventory of returned mobile devices in the U.S.

Minneapolis -- Supervalu on Thursday announced the appointment of Kathy Persian as senior VP and chief information officer of the company.  

Persian joined Supervalu in 2010 as group VP retail and merchandising systems, and later moved to group VP corporate planning, analysis and business process.

She replaces Wayne Shurts, who resigned to accept a position with another company.

Prior to Supervalu, Persian served as senior VP international business process and operations for Best Buy Co.

Minneapolis -- A filing with the Securities and Exchange Commission revealed that Best Buy Inc. CEO Hubert Joly has sold $1.19 million worth of shares of common stock of the company.
 
Joly sold 65,796 shares at a price of $18.02 per share, according to the SEC filing. According to Best Buy, the stock sale was made to cover taxes associated with stock grants.

New York -- Best Buy is moving about 2,000 loss-prevention employees in its U.S. locations to focus on selling, Bloomberg reported.  

Employees who greeted shoppers entering Best Buy  stores and checked receipts when they left will join the ranks of the company’s sales force, according to the report.

MINNEAPOLIS — Richard Schulze has moved one step closer to achieving his goal of acquiring Best Buy. The company has agreed to let its founder and former chairman access to certain due diligence information and form an invesment group so that he may continue his efforts to attempt to buy the company.

By Jordan Socran, [email protected]

Minneapolis -- Best Buy Co. announced Monday that it as agreed to let founder and former chairman Richard Schulze conduct due diligence and form an investment group with private equity sponsors as he tries to take the retailer private.

Best Buy said its agreement with Schulze establishes a non-exclusive, orderly process that satisfies his requests and protects the interests of shareholders.

Wounded retailers have a tendency to take irrational actions which means Walmart could have its hands full this holiday season as Best Buy is looking desperate and has a new CEO at the helm.