Top Best Buy exec cuts stake in company

Hubert Joly, CEO of Best Buy Inc., is doing a little diversification of his personal stock portfolio.



Bloomberg reports that as of June 2, Joly has sold 398,000 shares of Best Buy stock, or 44% of his roughly 910,000 company shares, for $12.8 million.



The retailer said Joly is not exploring other opportunities and has no plans to leave his current position.



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