<p>NEW YORK &mdash; Best Buy said Thursday that its president and chief operating officer is stepping down in July after more than 17 years with the chain.</p>
<p>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. </p>
<p>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. </p>
<p>The news was first reported by The Minneapolis Tribune. </p>