Mike Vitelli

Minneapolis -- Best Buy announced that Shari Ballard and Mike Vitelli, who had both been president of Best Buy's domestic business, will take on separate jobs, effective immediately. The retailer, which posted disappointing holiday results, said it was undertaking the changes to accelerate its strategy by aligning the company's senior operating talent with its highest priorities. Ballard, who joined Best Buy in 1993 as an assistant store manager, was named president of the international business, which includes stakes in China, Canada, Mexico and Europe. Vitelli, who joined Best Buy in 2004 after 23 years at Sony Electronics, will continue

Best Buy is expanding its online-only assortment in key product categories as a way to clear up some of the static that has clouded its financial picture in recent months. Revenues for the retailer's fourth quarter, which ended February 26, 2011, declined 2 percent (to $16.2 billion) compared to the same period the previous year, while same store sales dropped 4.6 percent.

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