Best Buy Shuffles Management Ranks

NEW YORK ( TheStreet) -- Best Buy ( BBY) is finally acknowledging it needs to make a change, shaking up its upper management ranks.

Shari Ballard will lead Best Buy's international business, while Mike Vitelli will assume responsibilities for the domestic division. Ballard and Vitelli preiously shared the role of president of Best Buy's domestic business, with additional responsibilities for operation in Canada and Mexico.

"To make the most of the profitable opportunities we see both domestically and internationally, we are establishing dedicated responsibility with two of our senior executive leaders, Shari Ballard and Mike Vitelli," CEO Brian Dunn said in a statement. "The focus, energy and drive of these two leaders will serve us well as we accelerate the pace of our company's transformation, work to provide more compelling multi-channel experiences for our customers and employees around the world and improve returns for our shareholders."

-Reported by Jeanine Poggi in New York.

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