Minneapolis-based Valspar Corp., a maker of coatings, paint and related accessories, has named James Muehlbauer as its chief financial and administrative officer. Muehlbauer will succeed Lori Walker, who announced in November that she would retire as CFO.
Walker joined Valspar in 2000 and has been CFO since 2008.
Muehlbauer was most recently executive vice president and CFO of Richfield-based Best Buy Co. Inc. He was one of the Best Buy executives who received retention bonuses in June to ensure "leadership continuity" while the company was looking for a new CEO.
Muehlbauer was subsequently replaced at Best Buy by Sharon McCollam, who was hired by new Best Buy CEO Hubert Joly in November.
Gary Hendrickson, CEO of Valspar, said in a statement, "Jim's expertise in growing large global enterprises and his hands-on business experience in retail and consumer brands make him an excellent addition to our management team."
Valspar had total sales for the fiscal year ended in October of $4 billion and has more than 9,500 employees in over 25 countries.
Patrick Kennedy
