Hubert Joly

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Hubert Joly says ‘human connection’ laid the foundation of Best Buy’s turnaround

Best Buy looked like a retail chain on its way out of business in the early 2010s. Under the guidance of then-CEO Hubert Joly, however, the retailer turned its fortunes around in impressive fashion. These days Mr. Joly attributes the company’s near unprecedented return to customers’ good graces as a result of creating a new focus on the human connection.
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Books & Literaturemckinsey.com

Author Talks: Hubert Joly on unleashing human magic

In this edition of Author Talks, McKinsey Global Publishing’s Tom Fleming talks with Hubert Joly, former chairman and CEO of Best Buy and currently a senior lecturer of business administration at Harvard Business School. In his new book, The Heart of Business: Leadership Principles for the Next Era of Capitalism (Harvard Business Review Press, May 2021), Joly (an alumnus of McKinsey’s Paris and New York offices) highlights the leadership principles that fueled Best Buy’s resurgence and describes his own quest to become a more authentic, vulnerable, and human leader. An edited version of the conversation follows.
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Best Buy savior Hubert Joly details a new approach to leadership

Hubert Joly is one of my business heroes. Best Buy had been given up for dead when he took over as CEO in 2012. Who needed a giant electronics store in the age of e-commerce? In a new book out today—The Heart of Business—Joly says that on day one, he addressed his 500 directors and officers and told them: “The purpose of a company is not to make money, but to make a positive contribution in people’s lives.” I can imagine one thousand eyes rolling.
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