A small club of powerful women is about to get a little bigger.
With news that Best Buy named Corie Barry its new CEO, the number of women CEOs at S&P 500 companies will grow to 26 by the time Barry takes office in June, according to the latest count from nonprofit research group Catalyst. Those 26 women CEOs will represent just 5.2% of all S&P 500 CEOs.
For nearly seven years, Best Buy chief executive Hubert Joly gave a master class on how old school retailers can thrive in the online shopping era.
Joly steered the retailer through turmoil in the industry by dropping prices, beefing up customer service and turning stores into modern-looking showrooms during his run as chief executive. On Monday, Best Buy announced he will step down as CEO in June.
Under Joly, Best Buy’s stock price has quadrupled, and the company has posted five consecutive years of sales growth in stores open at least a year, including a 4.8% revenue increase in 2018.
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