Hubert Joly is executive chairman of Best Buy Co. Inc. In this role, he leads the board of directors while advising and supporting the CEO on key matters, such as strategy, capability building, M&A and external relationships. He also may assume certain responsibilities at the request of the CEO, in areas such as government relations, community relations and leadership development.
Hubert joined Best Buy in 2012 and served as the company’s CEO until June 2019. He 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 resulted in improvements in customer satisfaction, market share gains, revenue growth and improved margins.
Hubert then led Best Buy into its next phase, Best Buy 2020: Building the New Blue. This growth strategy aims to enrich lives through technology by addressing key human needs in entertainment, productivity, communication, food, security and health and wellness. Under Hubert’s leadership, Best Buy committed to preparing youth from underserved communities for the tech-reliant jobs of the future. Additionally, the company is on a path to reduce its carbon footprint by 60 percent.
Prior to joining Best Buy, Hubert 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 2017, Hubert was awarded the Legion of Honor, France’s highest civilian distinction.