Best Buy appoints industry veteran as new CFO

Best Buy BBY.N on Monday named Anne Bramman as its new CFO, effective August 19, as the consumer electronics retailer undergoes a leadership transition.

Here are more details:

• Bramman takes over from Matt Bilunas; Best Buy announced in June that Bilunas would step down as CFO.
• She brings more than 30 years of finance experience and most recently served as chief financial officer of consumer insights and analytics firm Circana.
• Bramman is set to join a new executive leadership team under Jason Bonfig, who will succeed current CEO Corie Barry.
• Best Buy, which operates more than 1,000 stores across North America, has been working to revive growth by expanding online sales, services and advertising as competition intensifies across the sector.
• The company beat analyst expectations for the three months ended May 3, helped by steady demand for AI-powered smartphones and gaming consoles as well as growth in its ads and marketplace channels. It forecast second-quarter sales above Wall Street estimates.