Best Buy to Hire Sharon McCollam as CFO: Report
NEW YORK (
) --
Best Buy
(BBY) - Get Report
will hire former
Williams-Sonoma
(WSM) - Get Report
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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This article was written by a staff member of TheStreet.