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Best Buy Co., Inc. (NYSE:BBY) announced today that current Board Chairman, J. Patrick Doyle, will retire from his position, effective as of the expiration of his annual term on June 12, 2024. Doyle has served on Best Buy's Board of Directors since 2014 and has been chairman since 2020.
David Kenny will succeed Doyle and will take on the chairman role, effective as of Doyle's retirement. Kenny is the executive chairman of Nielsen and has been on the Best Buy Board since 2013. For more than 10 years, Kenny has been an integral member of the Board and has provided thoughtful guidance that has contributed to the growth of Best Buy.
"It's been an honor to serve as chairman on the Best Buy Board and I am thankful to have had the opportunity to be surrounded by so many other great leaders over the past 10 years," Doyle said. "I'm also incredibly optimistic about the future of Best Buy and I know the Board, under David's leadership, will help guide the company to continued success."
"The leadership at Best Buy, both within the company and on the Board, continues to prove why this organization is viewed as a leader in the retail industry," Kenny said. "I couldn't be more appreciative of Patrick's guidance and I am looking forward to taking on the chairman role."
"I am forever grateful for the leadership and steady voice Patrick has brought to our Board of Directors over the past decade, as well as the invaluable expertise he has provided our organization and the guidance he has given me," said Corie Barry, CEO of Best Buy. "I'm genuinely excited about what lies ahead for us while we find ways to better serve our customers as the industry returns to growth. I know David is the best leader to help us with this work."
In addition to a new chairman of the Board, Best Buy also announced that Eugene A. Woods will retire from his position on the board, effective as of the expiration of his annual term on June 12, 2024. Woods has been on the Board since 2018, currently serves as the CEO of Advocate Health and is a member of the Board of Directors at Johnson & Johnson. Throughout his time on the Best Buy Board, Woods has lent his extensive background in the health industry as well as strong business acumen to further Best Buy's purpose of enriching lives through technology.
Posted In: BBY
