Best Buy: New sheriff in town?

To continue the thoughts from my last post about Best Buy, here are my RetailWire comments about the hiring of a new CEO:

In theory, an outside hire is just what Best Buy needs right now. The takeover attempt being orchestrated by Richard Schulze and his team (including one of his ex-CEO proteges) was not likely to be as transformative as the company’s issues demand. However, it’s too early to declare that “months of uncertainty” are over, as long as Schulze still has an opportunity to stir things up.

Joly brings an interesting background to Best Buy, with experience in the tech industry and (perhaps more relevant) the hospitality industry. Best Buy’s forgotten legacy is great customer service, and if the company is to survive it needs to compete on a level playing field with The Apple Store. Joly should bring a fresh pair of eyes to the challenge.


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