Best Buy chairman/CEO Hubert Joly has squashed reports that he might leave the No. 1 CE retailer to helm Carrefour, the French hypermarket chain.
Word of his possible departure came from a report in Brazilian newspaper Valor Economico, which cited Joly as a leading contender with Carrefour's shareholders to succeed current CEO Georges Plassat, whose term ends next year.
The story was picked up by Reuters, giving it wider play and prompting a succinct denial from Joly, which is posted on Best Buy’s corporate site:
“There have been reports that I am being considered for a CEO role at another company. Let me be clear, I am fully committed to Best Buy’s continued transformation and have absolutely no plans to leave.”
Joly, a former Carlson and Vivendi CEO who joined Best Buy in 2012, is credited with resuscitating the flagging CE chain by cutting costs, revamping the supply chain, overhauling e-commerce operations, and enlisting vendors to help subsidize his sales floors.
Whether the momentum was maintained through the holiday season will be revealed on March 1, when Best Buy reports its fiscal fourth-quarter and full-year results.