UPDATE 2-Best Buy CFO departing, company to look for replacement

(Adds comments from company spokesman)

Oct 9 (Reuters) - Best Buy Co Inc's chief financialofficer, James Muehlbauer, is leaving the embattled retailerafter more than a decade, the company said on Tuesday.

Best Buy, which appointed a new chief executive in lateAugust, said it was looking for a replacement.

"Given the unique relationship between a CEO and CFO, it isnot uncommon for a new CEO to bring in his own person," saidBest Buy spokesman Matt Furman. Furman could not say whereMuehlbauer would go next.

Muehlbauer, 50, has been CFO at the company for four years.He will stay through fiscal 2013, which ends on Feb. 3, unlessboth parties agree to an earlier termination.

Best Buy, the world's largest consumer electronics storechain, replaced its chief executive after former CEO Brian Dunnleft abruptly due to an ethics probe.

The new CEO, Frenchman Hubert Joly, is trying to turn arounda company whose stores are often showrooms for online retailerslike Amazon.com Inc , as shoppers go there to check outproducts like high-definition televisions but then buy themelsewhere for less.

(Reporting by Martinne Geller in New York; Editing by MatthewLewis)

((martinne.geller@thomsonreuters.com)(646 223-6023)(ReutersMessaging: martinne.geller.reuters.com@reuters.net))

Keywords: BESTBUY CFO/