Latest / The CEO Diary with Fexingo: Leadership Lessons, Executive Decisions, and Corner Office Stories
How a Former Employee Saved a Dying Company
When a company is circling the drain, the conventional wisdom says bring in a turnaround specialist from outside. But sometimes the best person for the job is the one who already knows the floor plan. Lucas and Luna explore the story of Best Buy in 2012, when the stock was trading around $11 and analysts had written the company off as 'Amazon's showroom.' Then Hubert Joly, a former consultant who had worked with Best Buy before, took the CEO seat. Joly didn't slash and burn. He did something counterintuitive: he invested in the stores, matched Amazon's prices, and…
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