Best Buy (NYSE:BBY) finished up some outstanding business and hired a new President of the e-commerce and on-line divisions. Scott Durchslag former president of online travel company Expedia (Nasdaq:EXPE). He is also a former partner at McKinsey & Co. and has previously served as Skype’s chief operating officer prior to its sale by EBay (Nasdaq:EBAY) as well as a vice president at Motorola Inc. which partly has been swallowed by Google (Nasdaq:GOOG). Resume looks good.
But here is the bias to be concerned over. Hubert Joly the current President, CEO and Director is also from the online travel business. CW Travel Holdings long based in Minneapolis is also a major player in the travel business. While corporations need to make sure the fit in the executive suite works you need to be concerned about too much background commonality.
The next question becomes: What do you do with the big boxes? The online guys will need big money to spend and the bricks and mortar environment is clearly not cutting it.
George Gutowski writes from a caveat emptor perspective. Follow him on twitter@financialskepti
- Best Buy Sticks with a Homey for CEO. Not exactly the Big Bold Bet. $BBY $AMZN $DJTRET $RTH (financialskeptic.wordpress.com)
- Best Buy hires former Expedia, Skype executive Durchslag; may cut online prices to compete with Amazon (bizjournals.com)
- Best Buy Hires E-Commerce President (allthingsd.com)