Best Buy CFO steps down

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.



According to a filing with the Securities and Exchange Commission, Muehlbauer will receive a lump sum payment of $1.4 million as part of his separation benefits.