Best Buy appoints industry veteran as new CFO

Aug 3 (Reuters) - Best ‌Buy ​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.

(Reporting by Koyena Das in Bengaluru; Editing by Diti ‌Pujara)

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