Best Buy names Hubert Joly as new CEO, will take on leadership in September
It's been a rough year for Best Buy -- it's shuttered dozens of stores, seen its founder step down and even lost its CEO, Brian Dunn. Still, the big box retailer hasn't given up hope, and today chose a new chief executive, one Hubert Joly. Until Sunday afternoon, Joly was responsible for Carlson, a hospitality and travel outfit that operates hotels and restaurants in over 150 countries. If you've eaten at a TGI Friday's, you've patronized Joly's old firm. Best Buy seems optimistic, according to the Wall Street Journal, noting that Joly has a knack for turning around companies in trouble. Still, Best Buy will have to get along without its new head honcho until September -- the new boss is French, and is apparently waiting on a visa. In the meantime, Mike Mikan will continue to serve as interim CEO, presumably helping the board of directors sift through Richard Schulze $10 billion rescue plan.
