Best Buy Co., Inc. (BBY: Quote) said its Board of Directors has appointed Hubert Joly as the company's President and Chief Executive Officer and a member of its Board of Directors.
Joly is expected to step into his role as President and Chief Executive Officer in early September when his visa is secured. Joly will succeed Mike Mikan, a member of the Board of Directors who has served as CEO (interim) since April. Mikan will continue to be the interim CEO until Joly's start date. Following that, Mikan will continue to serve on the Board, where he will take the position of chairman of the Audit Committee.
In addition, the Board of Directors announced that Lisa Caputo and Sanjay Khosla will now serve on the board's Compensation Committee.
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by RTT Staff Writer
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