Hubert Joly, CEO of Best Buy
11 August 1959 |
|Residence||Richfield, Minnesota, U.S.|
|Alma mater||HEC Paris, Sciences Po|
|Occupation||Chairman and CEO of Best Buy|
Hubert Joly (born 11 August 1959) is the Chairman and CEO of Best Buy and a member of its Board of Directors. He was the former President, CEO and a former director of Carlson, a global hospitality and travel conglomerate based in Minneapolis, Minnesota, US.
Joly left Vivendi in 2004 to become President and Chief Executive Officer of Carlson Wagonlit Travel (CWT). In January 2008 Joly was announced President and CEO of Carlson Companies, an American privately held international conglomerate in the hotel, travel and restaurant franchise industries employing more than 175,000 people in more than 160 countries and territories. He took the positions in March 2008 as a replacement for Marilyn Carlson Nelson, daughter of the founder Curt Carlson. Under his leadership, CWT grew its annual sales from USD 8.9 billion in 2003 to USD 25.5 billion in 2007.
On August 17, 2012, Joly resigned from his position with Carlson to take the position of CEO at Best Buy, Inc. Under Joly and his Renew Blue transformation at Best Buy, the company's stock tripled in 2013 with the focus on banking on big box stores, superior customer service, product selection, and services like the Geek Squad. According to the New York Times, Joly's top goal is matching the lowest price, determined to make sure that a customer who came to Best Buy as a showroom has no reason to buy anywhere else. "The strategy is very simple,” he told the New York Times in 2012, soon after he took the job. “We believe that price-competitiveness is table stakes. The way we want to win is around the advice, convenience, service.”
On January 20, 2017, a report in the Brazilian newspaper Valor Economico stated Joly was being considered for the CEO post at Carrefour. Joly issued a statement: “There have been reports that I am being considered for a CEO role at another company. Let me be clear, I am fully committed to Best Buy’s continued transformation and have absolutely no plans to leave.” 
In addition to his current position as Best Buy’s Chairman and CEO, he serves on the board of directors for Best Buy and Ralph Lauren. Joly also serves on the board of overseers of the Carlson School of Management, and the executive committee of the Minnesota Business Partnership. He is also a member and former Chair of the Board of Trustees of the Minneapolis Institute of Arts and a member of the Board of Directors of the Minnesota Orchestra. 
He formerly served as a member of the Travel and Tourism Advisory Board, established in 2003 to advise the United States Department of Commerce, as well as the executive committee of the World Travel and Tourism Council.
Joly has also made public speeches, including his appearance at the Minnesota Student Association's 3rd Annual Leadership reception on February 9, 2013, and as Harvard Business School Executive Education guest speaker.
Joly was elected a Global Leader for Tomorrow by the World Economic Forum (Davos, 1997–1999) and honored as one of the 25 Most Influential Executives of the Business Travel Industry (2006 and 2009) by Business Travel News magazine. He is voted #77 on 2017 Top 100 Highest Rated CEOs on Glassdoor.
Joly is a Knight in the French National Order of Merit and in 2017 he was further awarded the French National Order of the Legion of Honour (Ordre national de la Légion d'Honneur), the highest decoration in France for civil merit.
- "Best Buy names Hubert Joly as new CEO - WSJ". 20 August 2012. Retrieved 11 June 2017 – via Reuters.
- "Carlson website: management team". Archived from the original on 10 March 2012. Retrieved 11 June 2017.
- Tartaglione, Nancy (2012-08-20). "UPDATE: Best Buy Names Hubert Joly President And CEO". Deadline. Retrieved 2017-06-26.
- "CEO Hubert Joly's Best Buy has just begun to fight". Retrieved 11 June 2017.
- Vascellaro, Frank. "New CEO Single-Handedly Turning Best Buy Around". Retrieved 11 June 2017.
- Stewart, James B. (13 December 2013). "Underdog Against Amazon, Best Buy Charges Ahead". Retrieved 11 June 2017 – via NYTimes.com.
- Magazine, ESM. "Possibility Of Hubert Joly As Carrefour CEO 'Strong Positive': Bernstein - ESM Magazine". Retrieved 11 June 2017.
- "Best Buy's Hubert Joly: No Plans To Leave For Carrefour". 20 January 2017. Retrieved 11 June 2017.
- "Board of Trustees — Minneapolis Institute of Art - Minneapolis Institute of Art". Retrieved 11 June 2017.
- "Minnesota Orchestra - Board of Directors". www.minnesotaorchestra.org. Retrieved 11 June 2017.
- Travel, Carlson Wagonlit. "Kurt Ekert appointed to the U.S. Department of Commerce TTAB". Retrieved 2017-02-28.
- Business Travel News, January 25, 2010.
- "Highest Rated CEOs". Glassdoor. Retrieved 2017-06-26.
- "2017 Highest Rated CEOs Employee's Choice" – Glassdoor
- "Best Buy CEO transforms the company for the better" – Market Realist
- "Best Buy CEO Saves Retailer from Death" – Fox Business
- "Best Buy CEO Hubert Joly confounds the naysayers" – CBS News
- "Target, Best Buy CEOs to meet with Trump on tax plan" – Star Tribune
- "My Retailer Of The Year: CEO Hubert Joly Puts The Best In Best Buy" – Forbes
- "Best Buy stock soars after better-than-expected earnings" – Star Tribune