Hubert Joly
{{Short description|French businessman and corporate director}}
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{{Infobox person
| name = Hubert Joly
| image = Hubert Joly headshot.jpg
| alt = Hubert Joly
| birth_date = {{birth date and age|1959|08|11|df=yes}}
| education = HEC Paris
Sciences Po
| occupation = Harvard Business School Professor
Former Chairman and CEO of Best Buy{{cite web |url=https://www.reuters.com/article/bestbuyceo-idUSL2E8JK09A20120820 |title=names Hubert Joly as - WSJ |work=Reuters |date=20 August 2012 |access-date=11 June 2017 }}
}}
Hubert Joly (born 11 August 1959) is a businessman and Harvard Business School faculty member{{Cite web|title=Hubert Joly - Faculty & Research - Harvard Business School|url=https://www.hbs.edu/faculty/Pages/profile.aspx?facId=520131|access-date=2021-07-19|website=www.hbs.edu}} who formerly served as chairman and CEO of Best Buy. He is also the former president, CEO and director of Carlson, a global hospitality and travel conglomerate based in Minneapolis, Minnesota, US.
He graduated from HEC Paris and Sciences Po Paris (1983).[https://www.hec.edu/fr/institut-society-organizations-so/profils/hubert-joly Hubert Joly]
Career
Joly left Vivendi in 2004 to become president and chief executive officer of CWT. In January 2008, Joly was announced president and CEO of Carlson Companies, an American privately held international conglomerate in the hotel, travel and restaurant franchise industries, employing more than 175,000 people in more than 160 countries and territories. He took the position in March 2008 as a replacement for Marilyn Carlson Nelson, daughter of the founder Curt Carlson. Under his leadership, CWT grew its annual sales from US$8.9 billion in 2003 to $25.5 billion in 2007.{{cite web|url=http://www.carlson.com/our-company/management-team.php|title=Carlson website: management team.|access-date=11 June 2017|url-status=dead |archive-url=https://web.archive.org/web/20120310002112/http://www.carlson.com/our-company/management-team.php|archive-date=10 March 2012}}
On August 17, 2012, Joly resigned from his position with Carlson to take the position of CEO at Best Buy.{{cite web|last=Tartaglione |first=Nancy |url=https://deadline.com/2012/08/best-buy-says-founder-schulze-declined-offer-due-diligence-joly-ceo-321450/ |title=UPDATE: Best Buy Names Hubert Joly President And CEO |website=Deadline Hollywood |date=August 20, 2012}} Under Joly and his Renew Blue transformation at Best Buy, the company's stock tripled in 2013{{cite news | url=http://www.startribune.com/ceo-hubert-joly-s-best-buy-has-just-begun-to-fight/233695571/ | title=CEO Hubert Joly's Best Buy has just begun to fight | first=David | last=Phelps | work=Star Tribune | date=November 28, 2013}} with the focus on banking on big box stores,{{cite news |url=https://minnesota.cbslocal.com/2013/11/06/new-ceo-single-handedly-turning-best-buy-around/ |title=New CEO Single-Handedly Turning Best Buy Around|first=Frank|last=Vascellaro | work=CBS News | date=November 6, 2013}} superior customer service, product selection, and services like the Geek Squad. According to The New York Times, Joly's top goal is matching the lowest price, determined to make sure that a customer who came to Best Buy as a showroom has no reason to buy anywhere else. "The strategy is very simple,” he told the New York Times in 2012, soon after he took the job. “We believe that price-competitiveness is table stakes. The way we want to win is around the advice, convenience, service.”{{cite news |url=https://www.nytimes.com/2013/12/14/business/fast-rise-of-best-buy-in-the-face-of-amazon.html|title=Underdog Against Amazon, Best Buy Charges Ahead|first=James B.|last=Stewart | work=The New York Times |date=13 December 2013}}
On January 20, 2017, a report in the Brazilian newspaper Valor Economico stated Joly was being considered for the CEO post at Carrefour.{{cite web|url=https://www.esmmagazine.com/possibility-hubert-joly-carrefour-ceo-strong-positive-bernstein/37607|title=Possibility Of Hubert Joly As Carrefour CEO 'Strong Positive': Bernstein - ESM Magazine|first=ESM|last=Magazine|date=20 January 2017 |access-date=11 June 2017}} Joly issued a statement: “There have been reports that I am being considered for a CEO role at another company. Let me be clear, I am fully committed to Best Buy’s continued transformation and have absolutely no plans to leave.”{{cite web|url=http://www.twice.com/news/people/best-buy-s-hubert-joly-no-plans-leave-carrefour/64028|title=Best Buy's Hubert Joly: No Plans To Leave For Carrefour|date=20 January 2017|access-date=11 June 2017}}
Joly stepped down as CEO of Best Buy in June 2019{{Cite web|url=https://www.cnn.com/2019/04/15/business/best-buy-ceo-hubert-joly-corie-barry/index.html|title=How Best Buy's outgoing CEO, Hubert Joly, rescued the company|first=Nathaniel Meyersohn, CNN|last=Business|website=CNN|date=15 April 2019 }}{{Cite web|url=https://www.cnbc.com/2019/04/15/best-buy-names-corie-barry-as-its-new-ceo.html|title=Best Buy names Corie Barry as its new CEO, Hubert Joly to become board's executive chairman|first=Lauren|last=Thomas|date=April 15, 2019|website=CNBC}} to become Executive Chairman of the company. In June 2020, Joly stepped down as Executive Chairman and began teaching at Harvard Business School as a Senior Lecturer of Business Administration.{{cite web|url=https://www.boursorama.com/bourse/actualites/best-buy-demission-d-hubert-joly-b72b3047e8dffe96e7b076a9193ffaf8 |date=2020-03-12 |access-date=2020-06-19 |title=BEST BUY : démission d'Hubert Joly| trans-title=BEST BUY: Hubert Joly resigns |language=fr |website=boursorama.com}}{{Cite web|last=Joly|first=Hubert|date=2020-10-07|title=Hubert Joly LinkedIn Profile|url=https://www.linkedin.com/in/hubertjoly/|access-date=2020-10-07|website=LinkedIn}}{{Cite web|title=Hubert B. Joly - Faculty - Harvard Business School|url=https://www.hbs.edu/faculty/Pages/profile.aspx?facId=520131|access-date=2020-10-08|website=www.hbs.edu}} He remains an advisor to Best Buy's CEO and Board of Directors.
Joly is the author of The Heart of Business: Leadership Principles for the Next Era of Capitalism, which was published by Harvard Business Review on May 4, 2021. The book debuted #3 on The Wall Street Journal's Business Bestseller List, then hit #10 the week after.{{cite web| url = https://www.wsj.com/articles/bestselling-books-week-ended-may-8-11620941227| title = Bestselling Books Week Ended May 8 - WSJ| work = Wall Street Journal| date = 13 May 2021}} It is also #126 on the USA Today list of Bestselling Books.{{cite news| url = https://www.usatoday.com/story/life/books/2013/06/21/the-heart-of-business/2444877/isbn/9781647820381/| title = The Heart of Business| newspaper = USA Today}}
Additional roles
In addition to teaching at Harvard Business School, he serves on the board of directors for Best Buy, Johnson & Johnson, and Ralph Lauren. He is also a member and former chair of the board of trustees of the Minneapolis Institute of Arts.{{cite web|url=http://new.artsmia.org/about/museum-info/board-of-trustees/|title=Board of Trustees – Minneapolis Institute of Art – Minneapolis Institute of Art|access-date=11 June 2017}}
He formerly served as a member of the Travel and Tourism Advisory Board, established in 2003 to advise the United States Department of Commerce,{{Cite press release | url=https://news.carlsonwagonlit.com/pressreleases/kurt-ekert-appointed-to-the-us-department-of-commerce-travel-and-tourism-advisory-board-ttab-2326745 | title=Kurt Ekert appointed to the U.S. Department of Commerce TTAB | publisher=CWT | date=June 10, 2016 }} as well as the executive committee of the World Travel and Tourism Council.
Along with making numerous public speeches, including serving as Harvard Business School Executive Education guest speaker, Joly has been featured in such publications as Fortune, CBS News, Inc., CNN Business, and CNBC.
Honors
Joly was elected a Global Leader for Tomorrow by the World Economic Forum (Davos, 1997–1999) and honored as one of the 25 Most Influential Executives of the Business Travel Industry (2006 and 2009) by Business Travel News magazine.Business Travel News, January 25, 2010. He was voted #10 on the 2018 Top 100 Highest Rated CEOs on Glassdoor,{{cite web|url=https://www.glassdoor.com/Award/Highest-Rated-CEOs-LST_KQ0,18.htm |title=Highest Rated CEOs |publisher=Glassdoor |access-date=2018-08-02}} moving up from #77 in 2017.{{cite web|url=https://www.glassdoor.com/Award/Highest-Rated-CEOs-2017-LST_KQ0,23.htm |title=Highest Rated CEOs of 2017 |publisher=Glassdoor |access-date=2018-08-02}} In 2018, Joly was named one of the "Best CEOs In The World" by CEOWORLD magazine.https://ceoworld.biz/2020/05/16/best-ceos/} {{Bare URL inline|date=August 2024}} Also in 2018, Joly was selected as one of the "World's Best CEOs" by Barron's{{Cite web|title=World's Best CEOs: 30 Leaders With Talent to Spare|url=https://www.barrons.com/articles/worlds-best-ceos-30-leaders-with-talent-to-spare-1527300812|access-date=2021-02-22|website=www.barrons.com|language=en-US}} and one of the "Best-Performing CEOs in the World" by Harvard Business Review.{{Cite news|date=2018-11-01|title=The Best-Performing CEOs in the World 2018|work=Harvard Business Review|url=https://hbr.org/2018/11/the-best-performing-ceos-in-the-world-2018|access-date=2021-02-22|issn=0017-8012}}
Joly is a Knight in the French National Order of Merit and in 2017{{Cite web|url=https://www.latimes.com/business/la-xpm-2012-aug-21-la-fi-best-buy-joly-20120821-story.html|title=Best Buy names Carlson's Hubert Joly its new chief executive|date=August 21, 2012|website=Los Angeles Times}} he was further awarded the French National Order of the Legion of Honour (Ordre national de la Légion d'Honneur), the highest decoration in France for civil merit.[https://nrfbigshow.nrf.com/speaker/hubert-joly] {{dead link|date=December 2020}}
References
External links
- [https://www.glassdoor.com/Award/Highest-Rated-CEOs-LST_KQ0,18.htm "2017 Highest Rated CEOs Employee's Choice" – Glassdoor ]
- [http://marketrealist.com/2015/01/best-buy-ceo-transforms-company-better/ "Best Buy CEO transforms the company for the better" – Market Realist]
- [http://www.foxbusiness.com/markets/2016/12/16/best-buy-ceo-saves-retailer-from-death.html "Best Buy CEO Saves Retailer from Death" – Fox Business]
- [https://www.cbsnews.com/news/best-buy-stock-jumps-ceo-hubert-joly/ "Best Buy CEO Hubert Joly confounds the naysayers" – CBS News]
- [http://www.startribune.com/target-best-buy-ceos-to-lobby-washington-on-tax-plan/413722383/ "Target, Best Buy CEOs to meet with Trump on tax plan" – Star Tribune]
- [https://www.forbes.com/sites/walterloeb/2016/12/26/2017-retailer-of-the-year-ceo-hubert-joly-puts-the-best-in-best-buy/#72cf87b4b1fc "My Retailer Of The Year: CEO Hubert Joly Puts The Best In Best Buy" – Forbes]
- [http://www.startribune.com/best-buy-reports-better-than-expected-start-to-the-year/424295753/ "Best Buy stock soars after better-than-expected earnings" – Star Tribune]
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Category:American chairpersons of corporations
Category:American retail chief executives
Category:American chief executives of travel and tourism industry companies
Category:Lycée Louis-le-Grand alumni
Category:McKinsey & Company people