Best Buy said Monday that Hatim Tyabji will retire as chairman of the board in June, with president and CEO Hubert Joly adding the chairman title.
Tyabji took over as chairman in 2012, following the departure of former CEO Brian Dunn. He had been on the board since 1998.
“My association with Best Buy has been more rewarding than words can express,” Tyabji said in a statement. “I have had a front-row seat to one of the most exciting business growth stories in recent times and, more recently, have participated in what I believe will be considered a historic business transformation. It is this transformation, led by my colleague and friend, Hubert Joly that I count as one of the highlights of my long career. Hubert and I have developed a wonderful partnership, and I am delighted he will succeed me as Board chairman.