Transformation Archives - Best Buy Corporate News and Information

By John Vomhof Jr. Company News

10 Jun: Hubert Joly leaves a lasting legacy as Best Buy CEO

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.

By Suzanne Hilker Sustainability

20 Feb: Brighter, Better and Energy Efficient: New Lights at 800 Best Buy Stores

We transitioned the stores from high wattage, high-bay metal halide fixtures (think old gymnasium lights) to more efficient, lower wattage fluorescent fixtures. It reduced our lighting energy usage by nearly half – the equivalent of removing more than 12,000 households from the grid. And it’s saving the company money.

This was a simple change that could be scaled across the chain, creating big results. It’s getting us much closer to our goal of reducing carbon emissions by 20 percent by 2020.