In 2012, Best Buy was struggling. Sales and profits were declining, the stock price was plummeting and pundits were predicting the company’s demise.
But then, in what would be a major turning point in Best Buy’s history, the company hired Hubert Joly as CEO. Over the next seven years, he led the company through our successful Renew Blue transformation, which resulted in improved customer satisfaction, market share gains, revenue growth and improved margins.
Now, Hubert is moving into the newly created role of executive chairman as part of a planned leadership transition.