Best Buy on Monday announced that former Carlson boss Hubert Joly will take over as chief executive officer beginning next month. The retail giant’s former CEO, Brian Dunn, stepped down without warning this past April after the big-box retailer hit a rough patch and said during its fourth-quarter earnings call that it would shutter 50 U.S. stores. Now, The Wall Street Journal reports that Joly will be Dunn’s permanent replacement beginning in September. Best Buy still has an $8.5 billion buyout bid on the table from founder and former CEO Richard Schulze, though he is reportedly planning to revise his offer in an effort to make it more attractive. Read the full story at Boy Genius Report.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications, co-founder of Metacademy, and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.