Photo: Associated Press
Best Buy has announced that its new CEO is Hubert Joly, a former hospitality CEO. He’ll be starting in early September, once his visa is secured.Joly, who is from France, will step in to replace interim CEO Mike Mikan. Best Buy has been looking for a new chief exec since Brian Dunn stepped down in April because of allegations about an inappropriate relationship with an employee.
So, who is this man in charge of America’s largest consumer electronics retailer?
He’s known as a turnaround guy — someone who comes in to a company, fixes it, and goes on his way. As a result, he has hopped around quite a bit.
Joly was previously at privately-held global hospitality company Carlson, which is based in Minnesota. He had served as president and CEO since 2008.
After working for 14 years at McKinsey, specializing in tech, he left to become president of EDS France in 1996. Then, he went to Vivendi in 1999, becoming CEO of Vivendi Universal Games, and later taking an EVP position at parent Vivendi Universal during a period of significant restructuring.
Joly went on to be CEO of Carlson Wagonlit Travel in 2004, where his stellar performance in transforming the firm eventually earned him the big gig at the head of parent Carlson.
He graduated from HEC Paris with a Business Administration degree and graduated from the Institut d’Etudes Politiques de Paris with a Public Administration degree.
Best Buy is currently in a period of turmoil. With showrooming woes, Geek Squad layoffs, the Dunn scandal, and the ongoing saga of founder Richard Schulze trying to buy back the company, Joly is going to have a lot on his plate.
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