Best Buy Names Joly CEO
The Wall Street Journal, Monday, August 20, 2012 10:18 AM
Best Buy chose a new chief executive to lead the company as it struggles with falling sales and manages a public discussion with founder Richard Schultz. He resigned from his chairman post, but wants to take the retailer private. The new CEO, Hubert Joly, was chief executive of Carlson, which includes Radisson and T.G.I. Friday's. Joly has a record of turning companies around. Best Buy, with 1,400 stores, is struggling amid competition from online retailers able to offer lower-price electronics.
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