Listen: Best Buy names first woman CEO as Hubert Joly steps down
"Number one is a change at the top of the recently written off as defunct electronics retailer best buy the company this morning named Corey berry as its new CEO. She'd been chief financial officer the past three years, she will replace Bertolli who'd been in charge since two thousand twelve and is widely credited with earning best buy around so marketplaces, and your has more. Now what the change means for best buy in. It's never ending competition with Amazon and other internet retailers who bear show Lee was an outsider. Best buy brought him in from the hospitality industry to deal with plunging sales, dwindling profits as more people went online to buy TV's and laptops. Joe Feldman is with the consulting firm tells the advisory group Huber Joe Lee helped transform the company and turn things around and show that there is important position for consumer electronics retailer in America to go ahead and compete with Amazon under show Lee best buy matched online prices used stores warehouses to fill online orders and added services like in-home product installation, the incoming CEO Corey berry played an instrumental role in best buy's turnaround, branding consultant Denise Leon says berry should move the company even more aggressively into services over gadgets. Yes, we will continue to have more and more devices and more technology, but the way they're integrated into our lives is becoming more personal. And therefore, we require a service provider to be in person with us provide that kind of in-person service best buy his so far managed to avoid the fate of belly up big box retailers, like Circuit City, toys, R us and sports authority, but Michael pack. Her with Wedbush securities has eventually best buy ship is gonna run into one of those icebergs. It's been dodging. I believe my kids will never shop at best buy ever, they're nineteen. And I think my kids are pretty average. He says best buy can thrive as an electronics convenience store where we get phone chargers and adapters when he can't wait. But he doesn't think best buy needs a thousand stores to do that."