Best Buy Makes Major Changes to Leadership

Best Buy announced today it is making major changes to its management structure in the U.S. in order to improve its agility and organization.

President and CEO Hubert Joly says two of its top-level executives will soon leave the company. Mike Vitelli, president of Best Buy's U.S. business will retire at the end of the fiscal year. Tim Sheehan, Executive Vice President of U.S. Operations will leave the company at the end of the month.

Starting January 1, 2013, Best Buy's U.S. operations will be structured into the following categories:

-Online and Retail Channels;
-Connectivity, Home and Services Business Groups; and
-Support functions, including Human Resources, Finance, Legal, and Marketing.

Best Buy will hold an Analyst and Investor Day on November 1, 2012 in New York City. It will be broadcast live via internet and available on Best Buy's investor relations site at www.investors.bestbuy.com.

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