Hubert Joly: People said I was 'crazy or suicidal' for taking Best Buy job. Then he turned it around [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
People thought Hubert Joly was 'crazy or suicidal' for taking the job as Best Buy CEO. Then he ushered in its turnaround When Hubert Joly took on the CEO role at Best Buy Amazon By the time Joly announced he was stepping down as CEO in April, Best Buy had achieved same-store sales growth for the past eight quarters. By the latest fiscal year, it had already achieved the financial targets it set for fiscal 2021. But back in 2012, people thought he was "crazy or suicidal," remarked Joly, speaking Wednesday to CNBC's "I felt there was enough assets to be able to effectuate a turnaround," he said, citing Best Buy's products, its stores and its associates as the assets he identified. But first its workers needed to be empowered. Joly gave associates the ability to match prices in stores to those found online, helping to prevent shoppers from checking out its products in stores before buying it more cheaply on the web. He partnered with technology companies to ensure Best Buy was offering
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