Businesses “do well by doing good," he told the audience at the conference.
Hubert Joly
Hubert Joly, Best Buy’s executive chairman and former CEO, has been named as one of this year’s winners for a prestigious award that recognizes top business leaders.
Columbia Business School’s W. Edwards Deming Center for Quality, Productivity, and Competitiveness on Monday named Hubert as one of three recipients of the 2019 Deming Cup. Now in its 10th year, the award recognizes leaders for operational excellence and for fostering a culture of continuous improvement within their organizations.
This year’s other honorees are David Abney, chairman and CEO of United Parcel Service (UPS), and Janet DiFiore, chief judge for the New York State Court of Appeals.
She has been with the company for 20 years, most recently serving as chief financial and strategic transformation officer.
After 7 years at the helm, Hubert is transitioning to the role of executive chairman.
Understanding purpose is key to being a successful leader, he said.
Hubert Joly spoke as part of a panel discussion at NRF 2018: Retail’s Big Show.
Best Buy Chairman and CEO Hubert Joly welcomed the Twin Cities Black Affinity Network to corporate headquarters on Saturday for a conversation about diversity and inclusion.
“My purpose is to inspire people around me in a positive way and to use the position I have as a platform to create positive change,” Hubert told the crowd of about 250.
Part of that change is bringing more diversity to the workplace. “If we don’t embrace the richness of backgrounds and experiences, then it’s going to be a terrible world for individuals who feel excluded,” Hubert said.
A statement from Best Buy Chairman and CEO Hubert Joly on tax reform.
“I am encouraged by the latest efforts by the Administration and Congressional leaders to advance corporate tax reform and the progress that has been made in recent months. For the first time in decades, the country has a real opportunity to achieve significant tax reform which will allow companies to reinvest in jobs, grow the economy and create opportunities for all Americans. We are ready to help pass tax reform this year.”
Technology has changed a lot over the past half century, and so has Best Buy. We talked with our founder and our current CEO to take stock of the past and look into the future.
MINNEAPOLIS, April 13, 2015 – Best Buy Co., Inc. (NYSE: BBY) announced today that Board Chairman Hatim Tyabji is retiring from the Board effective June 9, 2015. Tyabji has been a Board member since 1998 and chairman of the Best Buy Board of Directors since 2012.
Best Buy President and CEO, Hubert Joly, will succeed Tyabji and take on the additional role of Board chairman. Russell P. Fradin, President and CEO of SunGard and a Best Buy Board member since April 2013, will serve as Lead Independent Director.
Non-GAAP diluted EPS from continuing operations of $0.32
GAAP diluted EPS from continuing operations of $0.30
$65 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $965 million
MINNEAPOLIS, November 20, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter (“Q3 FY15”) ended November 1, 2014, as compared to the 13-week third quarter (“Q3 FY14”) ended November 2, 2013.
| Revenue | Q3 FY15 | Q3 FY14 |
| Revenue ($ in millions) | $9,380 | $9,327 |
| Comparable sales % change1,2 | 2.2% | 0.3% |
| Domestic Segment: | ||
| Comparable sales % change | 3.2% | 1.8% |
| Comparable online sales % change | 21.6% | 15.1% |
| International Segment: | ||
| Comparable sales % change | (3.0%) | (6.4%) |
| Operating Income | Q3 FY15 | Q3 FY14 |
| GAAP operating income as a % of revenue | 2.0% | 1.0% |
| Non-GAAP operating income as a % of revenue3 | 2.2% | 1.4% |
| Diluted EPS | Q3 FY15 | Q3 FY14 |
| GAAP diluted EPS from continuing operations | $0.30 | $0.12 |
| Impact of non-restructuring asset impairments | $0.01 | $0.02 |
| Impact of restructuring charges | $0.02 | $0.06 |
| Impact of gain on sale of investments | ($0.01) | ($0.01) |
| Benefit of income tax impact of Best Buy Europe sale | $0.00 | ($0.01) |
| Non-GAAP diluted EPS from continuing operations3 | $0.32 | $0.18 |
Hubert Joly, Best Buy president and CEO, commented, “In the third quarter, our teams delivered positive comparable sales, improved profitability and continued progress in our Renew Blue transformation.
Check out the highlights as Best Buy President and CEO Hubert Joly talks about the importance of e-fairness at the 2014 National Governor’s Association meeting in Nashville.