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Best Buy Names Hubert Joly CEO

by Todd Haselton | August 20, 2012August 20, 2012 7:20 am PDT

hubery joly best buy ceo

Best Buy announced on Monday that its board of directors has tapped Hubert Joly to serve as the company’s chief executive officer. Best Buy’s former CEO Brian Dunn stepped down in April following a scandal that involved a female employee with the retailer.

Joly will begin his role as the chief executive officer in early September after he secures his visa, the company said. Joly’s resume is impressive. He worked at Vivendi (currently part of Activision Blizzard) from 1999 to 2001, helped restructure a firm called EDS (now owned by HP), worked to transform Carlson Wagonlit Travel and served as the CEO of Carlson from 2008 until the present.

“Hubert was an outstanding candidate for this position and I am confident he will be a great fit for Best Buy,” said Hatim Tyabji, chairman of the Best Buy Board. “Hubert’s range and depth of experience in transforming companies is exactly what the company needs at the moment, as is his energetic, imaginative and experienced leadership in executing strategies.”

All this, of course, is happening at the same time that Best Buy founder Richard Shulze wants to acquire Best Buy for about $10 billion to take it private. Schulze hopes that, if his plan to acquire the firm is approved by the board, he can mimic Apple Stores and resurrect the struggling retailer. Unfortunately, however, the board has reportedly asked for “significant commitments” from Schulze.

Best Buy has already cut its staff and closed 50 stores, so Joly certainly has his work cut out for him.

[via Best Buy, USA Today]


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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