CHAPTER 4 The Heart of Leadership
Best Buy is a highly regarded retailer of electronics and technology products and services with annual revenues in 2023 of more than $45 billion, ninety thousand employees, and more than a thousand stores.1 However, in the years immediately following the Great Recession of 2008–2010, Best Buy was in desperate need of a turnaround. It was reeling from a public scandal involving the previous CEO and struggling in the face of new competitive threats. At that very moment, Hubert Joly, the CEO of the Carlson Companies, with businesses in travel and hospitality, became Best Buy’s CEO. Many thought Joly was crazy for taking on the job. Joly had no experience in retail, the company’s operating performance had been ...
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