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Best Buy Names Muehlbauer CFO

Minneapolis — Best Buy has named interim chief financial officer James Muehlbauer as finance executive VP/chief financial officer, effective last Friday.

Muehlbauer, who was previously chief financial officer of Best Buy’s U.S. operations, had been serving as interim chief financial officer for the parent company since Sept. 20, 2007.

He succeeds Darren Jackson, who left Best Buy last year to become president/CEO of Advance Auto Parts.

“Throughout his tenure with the company and especially since taking on the interim CFO role last fall, Jim has provided invaluable leadership to the company and to the finance team,” CEO Brad Anderson said in a statement. “He has helped build an organization with a reputation for sound financial operations, reporting transparency, strong internal controls and integrity. Jim has a deep understanding of our business and a strong point of view about creating shareholder value as we pursue growth.”

Muehlbauer joined Best Buy in 2002 from Pillsbury, and ran the retailer’s Musicland subsidiary before being named U.S. chief financial officer.

In his new role, he will lead the company’s financial activities, including decision support, strategic planning and performance management, accounting and reporting, investor relations, audit, tax and treasury functions.