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Best Buy hires ex-Williams-Sonoma exec as CFO

Associated Press Modified: November 12, 2012 at 4:30 pm •  Published: November 12, 2012

Muehlbauer's replacement by McCollam is one of several management changes made since Joly joined in August, after Best Buy's former CEO Brian Dunn left in April after an investigation into his relationship with a female employee.

Joly has eliminated two top executive positions in the U.S. and hired Expedia executive Scott Durchslag to head global e-commerce.

Meanwhile, Best Buy co-founder and former Chairman Richard Schulze is considering a plan to take the company private.

More information about Best Buy's plan will likely be given during a meeting with analysts on Tuesday. Best Buy reports fiscal third-quarter results Nov. 20. The company has forecast net income will be "significantly below" last year and a key revenue figure will fall.

Best Buy Co. shares rose 55 cents, or 3.6 percent, to close at $15.85 Monday. Its shares traded as high as $28.53 in early December, but fell to a 52-week low or $14.38 last Tuesday.