Norona to lead financial services at Best Buy

MINNEAPOLIS Best Buy Co. has promoted Mike Norona to the newly created position of president of financial services. In his expanded role, which encompasses oversight of domestic and international programs, Norona will guide the company's financial services strategy to build deeper customer relationships by developing financial solutions that evolve with customers' changing needs. Norona will continue to report to Darren Jackson, evp and cfo for Best Buy.

Norona has spent his 19-year career in various finance roles with Best Buy, the first 14 of which were with Future Shop, a Best Buy subsidiary in Canada. He has held finance officer roles in both Canada and the U.S. and has extensive knowledge and expertise in retail financial services. Throughout his tenure at Best Buy, Norona has been involved in several large initiatives, including its transformation into a more efficient, customer-centric business. During the transformation, Norona was the finance lead in establishing the company's seven-year strategic relationship with Accenture for IT consulting and outsourcing services. Norona also helped lead the company's efficient enterprise initiative, which focused on helping Best Buy improve its cost structure, return on investment capital and speed to delivering new finance capabilities. Most recently, Norona was vp of financial services.