Best Buy Hires Retired Williams-Sonoma Executive Sharon McCollam as CFO
Best Buy, a multi-channel retailer of technology products and services, has hired Sharon McCollam, the retired director, executive vice president (EVP), chief operating and chief financial officer (CFO) of Williams-Sonoma, as chief administrative officer (CAO) and CFO, effective 10 December 2012. McCollam left Williams-Sonoma earlier this year after serving as an executive officer for more than 12 years.
In her role, McCollam will influence and shape all aspects of Best Buy’s operations and transformation strategy. In addition to her proven financial leadership, McCollam also brings broad retail and multi-channel operational expertise that will be highly relevant to Best Buy’s transformation. She assumes a number of responsibilities including all aspects of global finance, strategic planning and corporate development, shared services and oversight of Best Buy’s real estate portfolio.
As CFO, she succeeds James Muehlbauer, who will leave the company at the end of this fiscal year, allowing for a smooth transition.
Throughout her time at Williams-Sonoma, McCollam played an influential, cross-functional role and was broadly recognised for her efforts in transforming the company’s financial and operating disciplines and ensuring its initiatives were in line with shareholder interests. During her tenure, the company grew to be regarded by the financial markets as a role model in execution, due largely to the consistent delivery of sustainable operating improvements and strong financial results.
She played a key role in shepherding the company through both high-growth and recessionary times and, along with the Williams-Sonoma leadership team, was credited with building one of the strongest and most profitable home furnishings retailers in the world.