Best Buy Co Inc's
Continue Reading Below
Best Buy said it is looking for a replacement.
Muehlbauer will stay at the electronics retailer through fiscal 2013, which ends on February 3, unless both parties agree to an earlier termination.
A Best Buy spokeswoman was not immediately available to comment on why Muehlbauer is leaving or where he was going.
Best Buy, the world's largest consumer electronics store chain, recently replaced its chief executive after former CEO Brian Dunn left abruptly due to an ethics probe.
The new CEO, Frenchman Hubert Joly, is trying to turn around a company whose stores have often become showrooms for online retailers like Amazon.com Inc