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Best Buy Names New CEO After Former Incumbent Resigned in April
Published on:
USA based consumer electronics retailer, Best Buy -- which is currently fighting off attempts by its former Chairman and founder to take the company private -- has named a new CEO and President.
Best Buy said that it has appointed Hubert Joly, a CEO with expertise in turnaround and growth across the media, technology and service sectors, as the company's President and Chief Executive Officer and a member of its Board of Directors.
Mr. Joly is expected to step into his role as President and Chief Executive Officer in early September when his Visa to work in the USA is secured. Mr. Joly will succeed G. Mike Mikan, a member of the Board of Directors who has served as interim CEO since April, when former CEO, Brian Dunn suddenly resigned.
Following that, Mr. Mikan will continue to serve on the Board, where he will take the position of chairman of the Audit Committee.
"Building on the Company's strengths and ongoing work, I believe Best Buy has the capacity to write an exciting new chapter in its history. I sincerely look forward to writing this chapter with the Best Buy team and putting in place the short term and medium term actions that will help ensure its success," Joly said.
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