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| Best Buy Names Executives to New Posts in International Unit |
MINNEAPOLIS--(BUSINESS WIRE)--Sept. 9, 2008--Best Buy International, the strategic business unit of Best Buy Co. Inc. (NYSE: BBY) devoted to developing growth opportunities outside of the United States, has named several executives to new or expanded roles. "Best Buy sees opportunities for innovation and growth in new markets and new geographies as well as in our core U.S. business, " said Robert Willett, CEO of Best Buy International and CIO for the Best Buy enterprise. "Our growing global presence requires seasoned and savvy leaders to carefully manage our expanding family of international brands. Our international leadership team is focused on driving growth for our enterprise around the world." Berg Named COO, Best Buy International David Berg is now the chief operating officer of Best Buy International, responsible for the operations of all of Best Buy's brands and businesses outside of the United States. He reports to Willett. Berg previously was the enterprise's executive vice president, International Strategy and Corporate Development. Berg joined Best Buy in 2002 as vice president and associate general counsel. Berg was promoted to senior vice president, Strategic Alliances, in 2004 and was promoted to executive vice president in 2008. Berg has played crucial roles in the company's sale of its Musicland subsidiary, the development of its strategic relationship with Accenture, and its acquisition of a majority interest in Jiangsu Five Star Appliance. In addition to helping Best Buy establish a presence in China, Berg also played significant roles in the company's expansion into Mexico and Turkey and was instrumental in the creation of its venture with The Carphone Warehouse, allowing for the introduction of the Best Buy brand in Europe. Koken Leads International Merchandising and Global Sourcing Tasso Koken was named senior vice president, international merchandising and global sourcing. In his newly created role, Koken is responsible for collaborating with Best Buy's country leaders to bring products and services to customers in different geographies around the world. He oversees Best Buy's global sourcing initiatives and is responsible for expanding the sales of the company's private label products and exclusive brands in different parts of the world. Koken also leads the development of the company's international ecommerce strategy, working in partnership with Neville Roberts, the CIO of Best Buy International. Koken reports to Berg. Koken joined Best Buy in 2006 as senior vice president, merchandising. Prior to Best Buy, Koken served as senior vice president and general merchandise manager of home electronics at Sears, Roebuck and Co. During his nearly 30-year career in electronics retailing, Koken led the successful expansion of the regional electronics retailer, The Wiz, later acquired by Cablevision Systems Corporation. He most recently served as Best Buy's senior vice president of enterprise merchandising and strategic partnerships. Nelsen Named SVP, Commercial In his newly created role of senior vice president, commercial, Keith Nelsen acts as general counsel for Best Buy International, managing the company's global legal responsibilities, including the oversight of its international transactions and local law compliance. He also manages the company's equity-related investment on a global basis, providing assessment, financial analysis, strategic rationale, and recommendations of equity investment opportunities; management of external advisors, including Investment bankers; and end-to-end "deal" responsibility. In addition, he is responsible for the enterprise's commercial relationship with Accenture and other key third parties who provide strategic services, such as the delivery of information technology support, to Best Buy. Nelsen reports to Berg. Prior to joining Best Buy in 2005, Nelsen was chief administrative officer and general counsel at Danka Business Systems PLC, where he worked to maximize growth and profitability for the company in the more than 20 countries. He also was responsible for worldwide legal operations and oversaw the human resources function. Before that, he was vice president, Legal, at Nordictrack, Inc. He began his career as a practicing attorney with Best and Flanagan, LLP. Montoya to focus on International Strategy Alejandro Montoya was named vice president, international strategy, reporting to Berg. In this newly created position, Montoya will collaborate closely with the international division's chief operating officer to identify and assess strategic opportunities for the enterprise's global expansion, leveraging his extensive background in finance and corporate development. Most recently, Montoya was the Best Buy vice president responsible for the company's global wireless initiatives. He joined Best Buy's finance team in 2004 and has held a number of financial roles in the company. Antoniadis Brings Best Buy's Brands to Europe Paul Antoniadis was named chief executive officer of Best Buy Brands, a division of Best Buy Europe, the company's new venture with The Carphone Warehouse. He is charged with establishing a Best Buy presence in Europe, based on the enterprise's successful customer-centric business model. His work in Europe encompasses all formats, channels and supporting brands. He reports to both Berg and Roger Taylor, the chief executive officer of Best Buy Europe. Previously, Antoniadis was senior vice president of international retail operations, responsible for evolving the Best Buy brand in China, Mexico and Turkey. Since joining Best Buy in 1997 as a general manager, Antoniadis has held several increasingly senior positions, including vice president of U.S. sales development. In this role, he was responsible for U.S. sales strategy deployment and for the development of customer solution sales strategies in the home entertainment and MP3 areas. Prior to joining Best Buy, Antoniadis served in several leadership roles for Wal-Mart Stores, Inc. from 1991 to 1997. About Best Buy Co., Inc. With operations in the United States, Canada, Europe and China, Best Buy Co., Inc. (NYSE: BBY) is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy Co., Inc. family of brands and partnerships collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, and Speakeasy. Approximately 150,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and web sites, in-home solutions, product delivery and in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2008, we donated a combined $31.8 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy Co., Inc., visit www.bestbuyinc.com.
CONTACT: Best Buy Co. Inc. |
