Best Buy Co. hired former Williams-Sonoma Inc. Chief Financial Officer Sharon McCollam as CFO as the world's largest consumer-electronics retailer seeks to reduce its store count and strengthen its online operations.
McCollam, 50, starts Dec. 10 and also will serve as chief administrative officer, Best Buy said today in a statement. She retired from Williams-Sonoma in March. Jim Muehlbauer, Best Buy's current finance chief, said last month that he would step down from the role.
Chief Executive Officer Hubert Joly is hiring McCollam as he works to boost sales while reducing store space amid intensifying online competition. Joly, who took charge in September as the company resisted buyout overtures from founder Richard Schulze, is meeting with analysts tomorrow in New York to discuss his strategy to revive the retailer.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.