Best Buy chairman Hatim Tyabji to retire
Mr. Tyabji has been a Board member since 1998 and chairman of the Best Buy Board of Directors since 2012.
Best Buy President and CEO, Hubert Joly, will succeed Mr. Tyabji and take on the additional role of Board chairman.
Since joining Best Buy in September 2012, Mr. Joly has led the company’s Renew Blue transformation. Before joining Best Buy, Mr. Joly was CEO of Carlson, a global hospitality and travel company.
He previously led Carlson Wagonlit Travel, Vivendi Universal Games and Electronic Data Systems’ French business. He serves on the boards of Ralph Lauren Corp., the Retail Industry Leaders Association and the Minnesota Business Partnership.
Russell P. Fradin, President and CEO of SunGard and a Best Buy Board member since April 2013, will serve as Lead Independent Director.
The company also announced the retirement of directors Sanjay Khosla and Allen U. Lenzmeier, effective June 9, 2015.
Mr. Khosla joined the Board in 2008 and brought key insights to the company’s global strategy. ■