Best Buy's president and chief operating officer, Mike Mohan, will leave the company in July after more than 17 years, the company said Thursday.
CEO Corie Barry said Best Buy will not replace him, instead spreading his duties among other members of the executive team, according to a note to employees obtained by the Star Tribune.
"When Mike shared that it might be time for him to leave Best Buy, I was met with so many emotions," Barry said in the note.
"We've worked together for so many years and built a true friendship I have grown to cherish. As his friend, I was proud that he was ready to leave a company he loves and set out to pursue his desire to do more," she said. "As his colleague, I was truly saddened at the idea that I wouldn't be able to count on his advice and insights as I have for so long."
Best Buy did not say what Mohan would do next.
"The amount of confidence I have in the leadership team of Best Buy is at an all-time high, and I truly look forward to seeing what you all do next," Mohan said in a note to employees.
Three executives will become executive vice presidents and directly report to Barry: Rob Bass, who runs Best Buy's supply chain and global properties organization; Damien Harmon, head of omnichannel operations; and chief merchandising officer Jason Bonfig.
Mohan joined Best Buy in 2004 and held leadership positions including chief merchandising officer and chief marketing officer during his tenure. In 2019, as Barry was named chief executive, taking over from Hubert Joly, Mohan added president to his chief operating officer title.
During the last year, Mohan helped lead Best Buy's response plan to the COVID-19 pandemic.
"When I was named CEO, Mike and I had a frank conversation about how we saw our professional relationship moving forward," Barry said in her note. "He was very clear at the time that he was determined to support me as a first-time CEO and continue to work hard to grow the business in all the ways we hoped to do. He was, at the same time, equally clear that he intended, at some point, to move on and grow his career. That time has arrived, and I want to thank Mike one more time for being there for the company and for me each and every day."
Nicole Norfleet • 612-673-4495