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Dive Brief:
Best Buy President and Chief Operating Officer Mike Mohan is stepping down from his post, effective July 1, according to a securities filing.
The retailer said it does not plan to fill the COO role after Mohan departs. Instead it plans to distribute his responsibilities around Best Buy s executive leadership team.
After leaving, Mohan is set to receive $1 million in cash in lieu of annual incentive compensation for the year.
Dive Insight:
Mohan started with Best Buy 17 years ago in 2004 as vice president of the digital imaging business group. He worked his way up to chief merchandising and marketing officer before becoming COO. In 2019, he took on the president title at the same time Corie Barrie became CEO after serving as the retailer s CFO and chief transformation officer.
When a federal holiday rolls around, shoppers may get an opportunity to score some unique deals or freebies. Many retailers use sales to mark holidays, and President’s Day 2021 is no different. If you’re hoping to find some bargains on February 15, 2021, here’s what you need to know about President’s Day deals and freebies this year.
When Do President’s Day Sales Start?
While each retailer has control over its own sales calendar, most will make their discounts available no later than some point during the week of February 7, 2021.
However, many retailers have their President’s Day deals and freebies available before that. That’s especially true when it comes to discounts on mattresses, appliances, and certain other large purchases.