Best Buy Co., Inc. (NYSE: BBY), the largest consumer electronics retailer in the United States, was founded in 1966 as Sound of Music by Richard M. Schulze and James Wheeler in Saint Paul, Minnesota. From September 2012 to June 2019, former Best Buy CEO Hubert Joly led one of the most celebrated corporate turnarounds in modern retail history. Appointed during a period of existential crisis — when many analysts predicted Best Buy would become the next Circuit City — Joly launched the “Renew Blue” strategy that delivered $1.9 billion in cost savings, a 335% shareholder return, and five consecutive years of comparable sales growth. Today, Joly is a Senior Lecturer at Harvard Business School, a bestselling author, and serves on the boards of Johnson & Johnson and S&P Global.

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Hubert Joly – Quick Facts

Best Buy Competitors

Best Buy operates in the highly competitive consumer electronics retail industry. As the largest specialty electronics retailer in the U.S., Best Buy competes with major omni-channel and e-commerce players:

• Amazon – the dominant e-commerce competitor with $469B+ in annual revenue
• Walmart – largest U.S. retailer with 4,600+ stores, strong electronics departments
• Target – broad-line retailer competing in consumer electronics and tech accessories
• Costco Wholesale – warehouse club retailer with competitive electronics pricing
• Home Depot – competes in appliances and smart home categories
• Lowe’s – overlaps in major appliances and connected home technology
• Apple – direct-to-consumer retail presence in consumer electronics
• Samsung – expanding direct retail and online sales channels

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Hubert Joly Net Worth 2026 – Best Buy CEO Salary

As of 2026, Hubert Joly’s net worth is estimated at approximately $40–50 million USD. This estimate is based on his disclosed stock holdings in Best Buy (approximately 464,275 shares worth over $34 million at recent prices), along with equity positions in Johnson & Johnson, S&P Global, and accumulated earnings from his seven-year tenure as Best Buy CEO, where his total compensation exceeded $100 million. Some sources estimate his net worth higher due to private investments and consulting income.

Hubert Joly – Best Buy CEO Compensation History

Best Buy Net Worth 2026 – Is Best Buy Profitable?

Yes, Best Buy remains a profitable company. Under current CEO Corie Barry, Best Buy reported strong results in its most recent fiscal year and is projecting revenue of approximately $41.7–$42.0 billion for FY2026 (ending January 2026). The turnaround foundation Hubert Joly built continues to drive the company’s performance.

Best Buy Financial Summary

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Contact Hubert Joly – Email Address | LinkedIn

Below are the publicly available contact details and professional profiles for former Best Buy CEO Hubert Joly:

Career & Education – Company, University, & College

Hubert Joly’s career spans over four decades across consulting, technology, entertainment, hospitality, and retail. A McKinsey-trained strategist, he built a reputation as a turnaround specialist before joining Best Buy in 2012 for what would become the defining chapter of his career.

Hubert Joly Career Timeline

After graduating from HEC Paris and Sciences Po, Joly spent 13 years at McKinsey & Company, rising to partner. He then moved to Electronic Data Systems (EDS) as President of the France business and VP for Europe. In 1999, he joined Vivendi Universal as Global CEO of the Games division, later becoming EVP of U.S. Assets and Strategy.

From 2004 to 2008, Joly served as President and CEO of Carlson Wagonlit Travel, one of the world’s largest travel management companies. He then became President and CEO of Carlson Companies (parent of Carlson Wagonlit, Radisson Hotels, and TGI Friday’s), growing revenues from $9.9 billion to $15.1 billion over four years.

In August 2012, Joly was appointed CEO of Best Buy during a critical period — the company was battling “showrooming,” declining sales, and a leadership vacuum. His “Renew Blue” turnaround strategy focused on price matching, employee investment, and vendor partnerships. The result: five consecutive years of comparable sales growth, $1.9 billion in cost savings, and a 51% reduction in the company’s carbon footprint. He stepped down as CEO in June 2019, handing the reins to Corie Barry.

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Education

Hubert Joly Wiki – Age, Family, & More

Former Best Buy CEO Hubert Joly (age 66) was born on August 11, 1959, in Laxou, a suburb of Nancy in northeastern France. He is the second of four brothers in a middle-class family; his father was a sales manager at a Danone-affiliated brewery, and his mother managed the household. His brothers have pursued executive careers at major corporations including Danone, LVMH, and Cisco.

Joly became a U.S. citizen during his tenure at Best Buy. He previously lived in Richfield, Minnesota, near Best Buy’s headquarters. In 2013, he sold approximately 20% of his Best Buy stake — raising over $10 million — to fund a divorce settlement. He later donated $4.3 million to his alma mater HEC Paris in 2018 to support its Purposeful Leadership initiative.

Notable Achievements & Honors

• Legion of Honour – Promoted to France’s highest civilian distinction, the National Order of the Legion of Honour (2016)
• Knight, French National Order of Merit – Honored in 2009
• Top 100 Best-Performing CEOs – Named by Harvard Business Review (2017)
• Top 30 CEOs Globally – Barron’s (2019)
• Top U.S. CEO by Employees – Glassdoor (2019)
• Deming Cup – Columbia Business School Award for operational excellence (2019)
• Thinkers50 Leadership Award – Ranked among world’s top 50 management thinkers (2021)
• Bestselling Author – The Heart of Business: Leadership Principles for the Next Era of Capitalism (2021), Wall Street Journal bestseller, endorsed by Jeff Bezos

Since leaving Best Buy, Joly has become a prominent voice for purposeful and stakeholder-driven capitalism. He teaches at Harvard Business School, co-leading the Chief Executive Leadership Programs and chairing the “Growing as an Enterprise Leader” program. In January 2026, he joined the board of S&P Global, in addition to his existing board seat at Johnson & Johnson.

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About Best Buy

Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Founded in 1966 as Sound of Music by Richard M. Schulze and James Wheeler, the company was rebranded as Best Buy in 1983. Today, it is the largest consumer electronics specialty retailer in the United States.

Best Buy trades on the New York Stock Exchange under the ticker symbol BBY. As of 2026, the company operates approximately 1,056 stores across the United States and has about 85,000 employees. Under current CEO Corie Barry, Best Buy continues to focus on the strategic pillars that Joly established — customer experience, omni-channel retail, and services like Geek Squad and Totaltech membership.

Frequently Asked Questions (FAQ)

Who is Hubert Joly?

Hubert Joly is a French-American business executive and author who served as Chairman and CEO of Best Buy Co., Inc. from September 2012 to June 2019. He is widely credited with leading one of the most successful retail turnarounds in American business history. Since 2020, he has been a Senior Lecturer at Harvard Business School and serves on the boards of Johnson & Johnson and S&P Global.

What is Hubert Joly’s net worth in 2026?

As of 2026, Hubert Joly’s net worth is estimated at approximately $40–50 million USD, based on his disclosed stock holdings in Best Buy (over 464,000 shares), equity positions in Johnson & Johnson and S&P Global, and accumulated compensation from his seven-year tenure as Best Buy CEO.

What was Hubert Joly’s salary as Best Buy CEO?

In his final full fiscal year as CEO (FY2019), Hubert Joly earned approximately $17 million in total compensation, including a $1.286 million base salary, approximately $4.2 million in bonuses, and roughly $11.2 million in stock awards. Over his entire CEO tenure, his annual compensation ranged from approximately $16.7 million to $22.5 million.

Why did Hubert Joly leave Best Buy?

Hubert Joly voluntarily stepped down as Best Buy CEO in June 2019, transitioning to the role of Executive Chairman. He served as Executive Chairman until June 2020. Joly had completed his turnaround mission and chosen to focus on teaching and writing at Harvard Business School. He was succeeded by Corie Barry, a longtime Best Buy executive who had served as the company’s CFO.

What is the “Renew Blue” strategy?

Renew Blue was Hubert Joly’s turnaround strategy launched in November 2012, shortly after he became Best Buy CEO. The plan focused on aggressive price matching (to combat “showrooming”), investing in employee training and engagement, building vendor partnerships (creating “store-within-a-store” concepts with Samsung, Apple, and Microsoft), and cutting $1.9 billion in costs. The strategy produced five consecutive years of comparable sales growth and a 335% shareholder return.

What does Hubert Joly do now?

Hubert Joly is a Senior Lecturer at Harvard Business School, where he co-leads the Chief Executive Leadership Programs and chairs the “Growing as an Enterprise Leader” program. He is the bestselling author of The Heart of Business (2021). He also serves on the boards of Johnson & Johnson and S&P Global (since January 2026), and is a Trustee of the New York Public Library.

Article last updated:February 2026March 2, 2026