Best Buy in management shuffle

Minneapolis -- Best Buy announced that Shari Ballard and Mike Vitelli, who had both been president of Best Buy's domestic business, will take on separate jobs, effective immediately. The retailer, which posted disappointing holiday results, said it was undertaking the changes to accelerate its strategy by aligning the company's senior operating talent with its highest priorities.

Ballard, who joined Best Buy in 1993 as an assistant store manager, was named president of the international business, which includes stakes in China, Canada, Mexico and Europe. Vitelli, who joined Best Buy in 2004 after 23 years at Sony Electronics, will continue to lead the U.S. business.

Commenting on the change, Best Buy CEO Brian Dunn said: “The focus, energy and drive of these two leaders will serve us well as we accelerate the pace of our company's transformation, work to provide more compelling multi-channel experiences for our customers and employees around the world and improve returns for our shareholders.”