Hubert Joly is a businessman who was born in Nancy, France, on August 11, 1959. He currently holds the positions of Chairman and Chief Executive Officer of Best Buy. Joly was appointed as the CEO in 2012. He is also a member of the Board of Directors for this company. In the business world, he is a well-known leader. However, there are many things that people do not know about him. Here are ten interesting facts about Hubert Joly.
1. He Has Studied at Two Universities
Hubert Joly was born and raised in France, so this is where he received his education. With regards to his further education, he has studied at two universities. He first studied at the HEC Paris, which is an international business school. He then attended the Paris Institute of Political Studies, which is commonly referred to as Sciences Po.
2. This is Not His First Time Holding the Positions of President and CEO
Holding the titles of President and CEO of Best Buy is not the first time that Hubert Joly has held such positions at a company. He held the same positions at Carlson Wagonlit Travel. He was appointed to these roles in 2008 as a replacement for Marilyn Carlson Nelson, who is the daughter of the company’s founder.
3. He Has Five Criteria for Leadership
When Joly is looking for someone to work in a leadership position, there are five criteria he has for potential candidates. His five criteria relate to purpose, values, clarity, authenticity, and service. He calls these the ‘five be of leadership’.
4. He Has a Salary of $16.7 Million
In the 2018 fiscal year, Hubert Joly had a salary of $16.7. This is an increase from the 2017 fiscal year in which he was paid $14 million. His increase in earnings was in part due to a small pay rise but also because of his stock awards and non-equity incentives. He was one of the highest paid CEOs in Minnesota.
5. He Believes in Being Yourself at Work
Joly thinks that it is important to be yourself at work and not have different personas in the workplace and at home. He has said in interviews that he finds it difficult to understand why people feel they need to put on an act in the workplace and that he always strives to present himself in an authentic way during working hours.
6. He Has Received Several Honors
In 2017, French was awarded the French National Order of the Legion of Honor and the French National Order of Merit, which makes him a Knight. He has also been honored by Business Travel News as one of three most influential executives of the business travel industry. Furthermore, he has been elected by the World Economic Forum as a Global Leader for Tomorrow.
7. He Has Focused on Improving the Culture at Best Buy
Joly has made many changes at Best Buy to turn around the company’s fortunes. One area of focus has been the workplace culture. Those who worked at Best Buy before he was appointed described a chaotic workplace and a lack of accountability. Joly has worked hard to rectify this by instilling discipline and uses new systems to monitor employee performance.
8. He Was the Board Chairman for the Minneapolis Institute of Arts
In addition to his professional roles at Best Buy, Joly was also the Chairman of the Board for the Minneapolis Institute of Arts. However, he quit this position when he began a relationship with a woman who worked at the institute’s museum. He stepped down as he didn’t think it was appropriate to mix his personal and professional life and chose the woman over his role as the Chairman of the Board.
9. He Had an Expensive Divorce
Hubert Joly got divorced in 2013. The exact details of his divorce are unknown. However, it was clearly expensive as he was forced to dump over $10 million of his Best Buy stock to cover the cost of the divorce.
10. There Were Rumors of Him Moving to Carrefour
In 2017, there were reports that Hubert Joly was being considered for the role of CEO Carrefour, which is a multinational retailer based in France. However, Joly was quick to deny these claims and stated that he had no intention of leaving Best Buy for a very long time.