Best Buy’s share price slipped 4 percent on Monday after disclosing that chairman/president/CEO Hubert Joly sold nearly $13 million in company holdings. A spokesman said Joly remains committed to Best Buy and was merely diversifying his portfolio. The retailer has forecast flat sales for the remainder of the year.
“Best Buy Co. Inc. CEO Hubert Joly sold $12.8 million worth of the consumer-electronics retailer’s stock Thursday, according to a new regulatory disclosure filed with the Securities and Exchange Commission.”
