Best Buy Co. (BBY) announced Monday morning that 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.
Best Buy gapped open sharply lower Monday and fell further in the final hour of trade. Shares finished down by 2.11 at $19.16. The stock dropped to a 2-week low and slipped beneath its 50-day moving average.
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