Best Buy CEO Hubert Joly steps down

Associated Press |

NEW YORK (AP) — The CEO credited with reviving a struggling Best Buy is stepping aside.

Hubert Joly is handing leadership of the reinvigorated electronics retailer to longtime executive Corie Barry as part of the company's succession plan.

Joly, 59, took the helm in 2012 and focused on driving online revenue and the in-store experience as traditional retailers like faced dwindling foot traffic and sales. Online sales now account for about 22 percent of its business.

It also expanded services while adding same-day delivery service in certain areas.

Barry becomes CEO on . She's been with the company in various executive jobs since 1999. She will also join the board of directors, which is expanding to 13 members.

Joly will become executive chairman of the board after stepping down.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:



Symbol Last Price Change % Change










Can the Media Solve the Partisan Conflict?

Andrew McCarthy, Contributing Editor, The National Review; Michael Zeldin, CNN Legal Analyst; Celeste Katz, Senior Political Reporter, Glamour; Silvia Davi, SVP, Contributing Editor,; and Doug Simon, CEO, D S Simon Media discuss how the media’s role has shaped the landscape for communicators and what the media is trying to do to reduce discord in society.