Best Buy to Hire Sharon McCollam as CFO: Report

Tickers in this article: BBY

NEW YORK (TheStreet) -- Best Buy (BBY) will hire former Williams-Sonoma (WSM) chief financial officer Sharon McCollam as its next CFO, according to a published media report.

McCollam will join the electronics retailer at the end of the year, according to the report in The Wall Street Journal, which cited an anonymous source close to the company.

McCollam will step out of a retirement that began in March, the report said.

Richfield, Minn.-based Best Buy is undergoing a broad restructuring under new CEO Hubert Joly as it confronts challenges to its big-box retailing model from e-commerce, the report noted.

Last month, Best Buy said CFO Jim Muehlbauer would leave at the end of the fiscal year, the report added.

Shares of Best Buy closed Friday up 4 cents, or 0.3%, at $15.30.

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