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Best Buy: names CEO Hubert Joly executive chairman

( - Best Buy said that it has appointed its Chief Executive Hubert Joly to the newly created role of executive chairman of the board, effective in June.

Alongside this, Corie Barry - the US electronics retailer's current Chief Financial and Strategic Transformation Officer - will become Chief Executive Officer, the company said.

Since joining Best Buy in 2012, Hubert Joly has improved the group's market shares, comparable sales growth and margins, while achieving 1.4 billion dollars in cost reductions.

As a result, the share price has more than tripled since 2012. It is down 0,8% today.

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