Hubert Joly is chairman and CEO of Best Buy Co. Inc., the leading provider of consumer technology products and services, with approximately 125,000 employees in North America and approximately $40 billion in annual revenue.
Mr. Joly joined Best Buy in 2012 and led the company through its much publicized Renew Blue transformation. The customer-focused strategy entailed: taking price off the table by ensuring Best Buy’s price competitiveness and matching online prices; investing in the online shopping experience; reinvigorating the customer experience in the stores by investing in the engagement and proficiency of the sales associates; partnering with the world’s foremost tech companies to help them showcase their technology; and taking $1.5 billion of costs out to fund the required investments. The transformation has resulted in improvements in customer satisfaction, market share gains, revenue growth and improved margins.
Now, Mr. Joly is leading Best Buy into its next phase, Best Buy 2020: Building the New Blue. In this next phase, Best Buy is driven by a clear purpose: to help customers pursue their passions and enrich their lives with the help of technology. It aims to address their needs around entertainment, communication, productivity, security, health, etc. in a more holistic fashion. It seeks to evolve from selling products through transactions to providing solutions and building relationships.
Under Mr. Joly’s leadership, Best Buy has committed to preparing youth from underserved communities for the tech-reliant jobs of the future. Additionally, Best Buy is on a path to reduce its carbon footprint by 60 percent.
Prior to joining Best Buy, Mr. Joly was CEO of Carlson, a global hospitality and travel company. Before that, he led Carlson Wagonlit Travel, Vivendi Universal Games, and Electronic Data Systems’ business in France.
He serves on the board of directors of Ralph Lauren Corp., the Retail Industry Leaders Association, Minnesota Business Partnership, Minneapolis Institute of Art and the Minnesota Orchestra. In August 2017, Mr. Joly was awarded the Legion of Honor, France’s highest civilian distinction.