Best Buy Co. (BBY) is hiring Sharon McCollam, the former chief financial officer of Williams-Sonoma Inc. (WSM), as its CFO, according to a person with knowledge of the matter.
The appointment of McCollam will be disclosed publicly tomorrow, said the person, who asked not to be named as the announcement isn't public. She retired from home-goods retailer Williams-Sonoma in March. The Wall Street Journal reported the appointment earlier.
The electronics chain is revamping operations under new Chief Executive Officer Hubert Joly, who is accelerating the introduction of smaller stores and closing big-box locations. Joly plans to discuss his strategy with analysts at a meeting in New York on Nov. 13.
McCollam attracted praise during her tenure at Williams- Sonoma for reducing store count following an overexpansion, the WSJ said.
Source: Bloomberg | Chris Burritt and Allison Bennett
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