Best Buy Names Hubert Joly New CEO

Joly will try to turn the company around while fighting a takeover attempt.
3:00 | 08/20/12

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Transcript for Best Buy Names Hubert Joly New CEO
Let's best buy store that most people go to his -- to new CEO his name is Hubert Joseph Lee. And he has to try to really turned the company around while fighting a takeover attempt. From its founder and does that seem possible to you. Know. -- actually not. -- -- -- -- I mean -- -- everyone goes -- best -- -- not anymore they don't pay your stereo. Best I've got a lot of problems on they've got this acquisition offer that's kind of a squishy offer from the -- founder he's got 40% of the company already. I'm not sure why he'd want to be there he's over seven years old -- got a few billion dollars or seems like a huge headache. It's interesting that -- -- -- -- over the weekend they report earnings tomorrow morning. So I'm not sure how much they're gonna wanna -- from Matt and say you know we just -- mr. Jolie and he's he's got all kinds of stuff on his -- -- we're not ready to talk about what we're gonna do turn this and around. I don't think anyone has turnaround plan for this I haven't heard anything even resembling a turnaround plan so they're they're shuffling CEOs on the Titanic here. I'm sure mr. -- a nice guy but I doubt he has wide scale like cure for what -- best -- which is obsolescence.

This transcript has been automatically generated and may not be 100% accurate.

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