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Hubert Joly    

CEO of Best Buy; Former CEO of Carlson

While many have predicted the tumultuous decline of Best Buy, Hubert Joly has employed some brilliant strategies through his 2013 "Renew Blue" initiative to leverage what used to be seen as weaknesses, up their game with the competition, and re-energize the company.

He is closing some of the oversized and underutilized stores and opting for smaller physical spaces while digging further into digital spaces. That includes shipping purchases directly from some 1,000 stores to customers who buy online.

The effort has been paying off, with company shares up 10 percent in the third quarter.

Previously, Joly led the restructuring and growth of Vivendi’s video game business (now part of Activision Blizzard) from 1999 to 2001, which included the development of a massive online presence with Diablo II and then World of Warcraft. He later oversaw the integration of Universal and Vivendi’s media assets in the U.S., and was part of the team that led the successful restructuring of Vivendi in 2002 to 2004.

In the technology sector, Joly led the turnaround of EDS (now part of HP) in France from 1996 to 1999. During this time, the company boosted revenues from a then rapidly declining 1.3 billion French Francs to 2.1 billion, while significantly increasing profit margin.

In 2008, Joly was named CEO of Carlson, the worldwide hospitality and travel company. As CEO of Carlson, he crafted and led the implementation of Ambition 2015, a comprehensive strategy to strengthen the company’s leadership position across its businesses, including its restaurant division with more than 900 T.G.I. Friday’s restaurants, its hotel division with more than 1,000 hotels around the world. That work also included repositioning the company’s core brands; enhanced customer experience initiatives; additional investment and revenues from the company’s online presence; and global expansion in key emerging markets. From 2004 to 2008, he was the CEO of Carlson Wagonlit Travel, growing its sales from $ 8 to $ 25 billion.

From 1983 to 1996, Joly was with McKinsey & Company, Inc., working in the firm’s Paris, New York and San Francisco offices. Most of his clients were in high tech, financial services and luxury businesses.

News


Best Buy CEO Hubert Joly Sells Nearly $17 Million Worth Of Stock ...

NEW YORK (AP) — Hubert Joly, CEO of Best Buy, sold some stock in order to help pay for his divorce settlement. In a regulatory filing, Joly said he exercised ...

Is Best Buy CEO Hubert Joly The Best Buy? - Forbes

Best Buy's voting record on Say on Pay, the advisory shareholder vote on executive compensation, is not good. Last year, only 38 percent of shareholders voted ...

A year on the job with Best Buy CEO Hubert Joly | Star Tribune

Best Buy CEO Hubert Joly is a man who often uses metaphors to make a larger point.

Best Buy's CEO Hubert Joly shines at his first annual meeting | Star ...

Critics may not think Best Buy CEO Hubert Joly is worth the $20 million in upfront cash and stock the company paid him last fall.

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