Best Buy (BBY), one of the largest electrical appliance retailers in the world, is rumored to be changing its management in China because it is not satisfied with the current performance in the region.
A public relations representative in China disclosed that in order to meet its growing business needs in China, Best Buy will assign new staff from its headquarters in the United States to replace its Chinese executives.
Though the company entered the Chinese market in 2003, it has not made any tangible progress compared with its competitors like Gome and Suning.
Other rumors in Chinese media report Best Buy is having difficulty integrating its acquistion of Five Star into the company. Local home appliance retailer Gome's recent acquisition of Yongle has also brought heavy pressure to Best Buy
