Hubert Joly officially bid adieu as Best Buy Co. Inc.
After seven years at the nation’s largest consumer electronics retailer and Minnesota’s third-largest publicly traded company, Joly underscored that he had achieved what he set out to do when he joined the company in 2012.
Joly has revitalized the bottom line, improved relationships with vendors and turned the company toward new areas of growth in technology support services as well as health and aging. Comparable sales have grown for five consecutive years.
The others are Beth Ford at Land O’Lakes and Thrivent’s Terry Rasmussen.
Barry was named CEO in mid-April and has served as Best Buy’s chief financial officer since May 2016.
It now falls to Barry to carry out the next phase of what the company calls “Best Buy 2020: Building the New Blue,” which she helped to craft. A key part of the strategy is focused on building long-term relationships with customers through the company‘s services, such as Total Tech Support, in-home technology consultations and a suite of phones and home monitoring devices for older adults sold through newly acquired GreatCall.
Employees and investors shouldn’t expect to see much of a change in course or style, she said.
“Having been a member of the management team for four years, it doesn’t feel like I am distinctly taking off one hat and putting on another,” Barry said in an interview Monday.
“Yes, this particular role feels a little bit weightier because the buck ultimately stops with you,” she added. “But I have always tried to live and work at this company in a way that showcases just how responsible I’ve felt for its performance.