World News

Best Buy executive chairman to step down

(Reuters) – Retailer Best Buy Co Inc <BBY.N> said on Wednesday Executive Chairman Hubert Joly would step down and will not stand for re-election at the shareholder meeting on June 11.

Joly, a restructuring expert and former chief executive officer of the company, had played a role in reviving falling same-store sales at the retailer.

(Reporting by Shradha Singh in Bengaluru; Editing by Krishna Chandra Eluri)