Joly to Retire as Best Buy Chairman in June, Will Stay as Paid Consultant
Former Best Buy CEO Hubert Joly will retire as chairman when his term expires at the June 11 annual meeting, said the retailer Wednesday. Joly will stay on as an independent consulting contractor for a one-year renewable term at $37,500…
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quarterly pay but no benefits. Former Chief Financial Officer Corie Barry succeeded Joly as CEO last June (see 1904150003). Patrick Doyle, Best Buy’s lead independent director since 2019, will succeed Joly as chairman. Russell Fradin, Doyle’s predecessor as lead independent director, won’t seek re-election to the board when his term expires at the annual meeting because of “increased time commitments” at his law firm, said Best Buy.