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Hubert Joly: 'I am not the CEO of Best Buy'

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Best Buy's Chief Executive Officer Hubert Joly believes a comment made at an investor conference last November was misquoted and misconstrued in the Star Tribune's recent story about the retailer ending its flexible work program for corporate workers.

According to the newspaper, Joly said, “In a turnaround transformation, direction needs to come from the top. I make sure it gets to a conclusion based on fact. You need to feel disposable as opposed to indispensable.”

In a Star Tribune opinion piece, Joly claims he was referring to himself as being dispensable, not the employees of Best Buy.

"In the end, any good leader has to be measured in part by what comes after he or she leaves office, which, of course, ties closely to the idea of the leader being dispensable," Joly wrote. "That is why it is so critical that good leaders focus not on preserving their job but serving the organization and preparing the next generation to assume their role."

"As I have said, I am not the CEO of Best Buy. I am just a man honored to have the job," he added.

Joly took over the reins of Minnesota's struggling consumer electronics big box chain last September.

Best Buy reported better-than-expected fourth-quarter earnings earlier this month. The company said it cut its loss to $409 million — substantially less than the loss of $1.82 billion a year earlier.

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