Best Buy president to leave after 17 years at chain

In this Aug. 27, 2019, file photo, the Best Buy logo is shown on a store in Richfield, Minn. THE CANADIAN PRESS/AP/Jim Mone

NEW YORK — Best Buy said Thursday that its president and chief operating officer is stepping down in July after more than 17 years with the chain.

The Minneapolis-based consumer electronics retailer will not replace Mike Mohan, 53, according to a memo to employees obtained by The Associated Press. Rather, his duties will be spread out among members of the executive team.

According to the memo, some of the executives who directly reported to Mohan will now report to its CEO Corie Barry. They include: Rob Bass, who continues to run the company's supply network and global property organizations; Damien Harmon, head of omnichannel operations; and Jason Bonfig, chief merchant.

The news was first reported by The Minneapolis Tribune.