June 11, 2020
Hubert Joly, the 60-year-old French business executive who was named CEO of Best Buy eight years ago to help right-size the consumer electronics retail chain, has officially ended his duties with the company.
Joly, who became executive chairman of the board with the appointment of Corie Barry as Best Buy’s first female CEO, informed the company’s annual shareholder meeting about his transition into private life.
Joly led the company through its “Renew Blue” transformation, which resulted in improved customer satisfaction, market share gains, revenue growth and improved margins, according to Best Buy.
“I have enjoyed my eight years at Best Buy immensely working with an extraordinary group of people to reinvigorate and rejuvenate one of the country’s finest companies,” Joly told shareholders.
The executive said he is writing a book, “The Heart of Business, Leadership Principles for the Next Era of Capitalism,” which is slated to be published in the spring of 2021. Joly is also joining the faculty at Harvard business school next month, and continuing as a director on a number of third-party corporate boards.