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 		 Hubert Joly, the former CEO and now executive chairman of Best Buy, speaks with Becca Coggins, a leader in McKinsey’s global retail practice, about Best Buy’s organizational transformation and how the coronavirus pandemic is changing the key measures of performance.This interview was recorded at the 2020 Global Business Leaders Forum, which was held online.

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 			Listen to the podcast (duration: 43:54) &#62;
 		</a>&nbsp;Hubert Joly, the former CEO and now executive chairman of Best Buy, speaks with Becca Coggins, a leader in McKinsey’s global retail practice, about Best Buy’s organizational transformation and how the coronavirus pandemic is changing the key measures of performance.This interview was recorded at the 2020 Global Business Leaders Forum, which was held online.

We talk with McKinsey partners and corporate executives on the challenges they face creating lasting strategies in a fast-changing world. We also examine the different ways these executives approach these challenges and the new and innovative ways they think of creating a vision for their enterprises.

What does it take to survive in a world of constant change? More than ever, enterprises need to create strategies that can meet current needs but also adapt to future demand. A regular series of interviews with McKinsey partners and corporate executives.

Inside the Strategy Room

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  But it takes bold people and courageous approaches to seize those opportunities and create value.

In each episode of our weekly podcast, we interview the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them. 

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few. &nbsp;But it takes bold people and courageous approaches to seize those opportunities and create value.
In each episode of our weekly podcast, we interview the world&rsquo;s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them.&nbsp;

Hubert Joly shares lessons from leading the turnaround of the retail and technology giant and how they prepared him and the company for the current crisis

50. Transformation and resilience: An interview with Best Buy’s executive chairman Hubert Joly

For many years, the continued rise of private markets has been defined by assets under management (AUM), while the composition of the industry evolved significantly. This week, two of McKinsey’s Private Capital Practice experts are joined by Neil Mehta from Apollo Global Management to discuss the diverse types of non-traditional private capital increasingly being raised by general partners (GPs), and how asset managers will need to continue to adapt to meet this growing complexity and the variety of needs that their investors are looking to them to solve.

McKinsey Senior Partner Alexander Edlich is a senior leader in McKinsey’s Private Capital Practice, and is based in New York. He’s the lead author of our 2025 Global Private Markets Review, and has more than two decades of experience advising financial services firms, including alternative asset managers and investors, on how to address ever-changing industry dynamics. McKinsey Partner Paul Maia co-leads McKinsey’s work on advising the C-suite of private capital GPs, as well as the private capital arms of institutional investors, and is based in Washington, D.C. Neil Mehta is a partner and global head of new markets at Apollo Global Management in New York, where he is responsible for driving growth into markets that have historically had limited exposure to private assets, including traditional asset management, defined contribution, and taxed advantage strategies. Neil is also a member of Apollo’s leadership team.

Related insights

Alternative assets get more alternative: The rise of novel AUM forms

Global Private Markets Report 2025: Braced for shifting weather

Thematic investing: A win–win for private equity and the planet

Private capital: The key to boosting European competitiveness

McKinsey Insights on Private Capital

McKinsey Insights on Strategy & Corporate Finance

McKinsey Strategy & Corporate Finance on LinkedIn

For many years, the continued rise of private markets has been defined by assets under management (AUM), while the composition of the industry evolved significantly. This week, two of McKinsey&rsquo;s Private Capital Practice experts are joined by Neil Mehta from Apollo Global Management to discuss the diverse types of non-traditional private capital increasingly being raised by general partners (GPs), and how asset managers will need to continue to adapt to meet this growing complexity and the variety of needs that their investors are looking to them to solve.
McKinsey Senior Partner&nbsp;<a href="https://www.mckinsey.com/our-people/alexander-edlich">Alexander Edlich</a> is a senior leader in McKinsey&rsquo;s Private Capital Practice, and is based in New York. He&rsquo;s the lead author of our <a href="https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report">2025 Global Private Markets Review</a>, and has more than two decades of experience advising financial services firms, including alternative asset managers and investors, on how to address ever-changing industry dynamics. McKinsey Partner <a href="https://www.linkedin.com/in/paul-alexander-diogo-maia-b7ba5910/">Paul Maia</a> co-leads McKinsey&rsquo;s work on advising the C-suite of private capital GPs, as well as the private capital arms of institutional investors, and is based in Washington, D.C. Neil Mehta is a partner and global head of new markets at <a href="https://www.apollo.com/">Apollo Global Management</a> in New York, where he is responsible for driving growth into markets that have historically had limited exposure to private assets, including traditional asset management, defined contribution, and taxed advantage strategies. Neil is also a member of Apollo&rsquo;s leadership team.
Related insights
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report#alternative-assets-get-more-alternative-the-rise-of-novel-aum-forms">Alternative assets get more alternative: The rise of novel AUM forms</a>
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report">Global Private Markets Report 2025: Braced for shifting weather</a>
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/thematic-investing-a-win-win-for-private-equity-and-the-planet">Thematic investing: A win&ndash;win for private equity and the planet</a>
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/private-capital-the-key-to-boosting-european-competitiveness">Private capital: The key to boosting European competitiveness</a>
<a href="https://www.mckinsey.com/industries/private-capital/our-insights">McKinsey Insights on Private Capital</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights">McKinsey Insights on Strategy &amp; Corporate Finance</a>
<a href="https://www.linkedin.com/showcase/mckinsey-strategy-corporate-finance/posts/?feedView=all">McKinsey Strategy &amp; Corporate Finance on LinkedIn</a>

253. Private capital gets more alternative

Although every company wants to grow, only one in four is able to do so profitably and maintain that growth over time. This week, Sean speaks with three of our growth experts about the mindsets and behaviors of successful growth outperformers.

Jill Zucker is a senior partner and former managing partner of our New York office. She co-leads our global growth transformation work and serves financial services firms, including wealth managers, asset managers, insurance companies, global banks, and private equity. Rebecca Doherty is a partner in our Bay Area office and co-leader of our global Strategic Growth and Innovation Practice.  She works with healthcare, industrial, and technology clients to define and execute value-creating growth road maps. Kate Siegel is a partner in our Detroit office and a leader in our Strategy and Corporate Finance Practice. She counsels CEOs and executive teams to develop holistic growth strategies, pursue organic and inorganic M&A, and attain profitable growth aspirations.

Related Insights

How top performers use innovation to grow within and beyond the core

Breaking the mold: Five behaviors of leading growth transformers

How to reignite growth through adjacencies

Innovative growers: A view from the top

Courageous growth: Six strategies for continuous growth outperformance

The triple play: Growth, profit, and sustainability

Although every company wants to grow, only one in four is able to do so profitably and maintain that growth over time. This week, Sean speaks with three of our growth experts about the mindsets and behaviors of successful growth outperformers.
<a href="https://www.mckinsey.com/our-people/jill-zucker">Jill Zucker</a> is a senior partner and former managing partner of our New York office. She co-leads our global growth transformation work and serves financial services firms, including wealth managers, asset managers, insurance companies, global banks, and private equity. <a href="https://www.mckinsey.com/our-people/rebecca-doherty">Rebecca Doherty</a> is a partner in our Bay Area office and co-leader of our global Strategic Growth and Innovation Practice.&nbsp; She works with healthcare, industrial, and technology clients to define and execute value-creating growth road maps. <a href="https://www.linkedin.com/in/katersiegel/">Kate Siegel</a> is a partner in our Detroit office and a leader in our Strategy and Corporate Finance Practice. She counsels CEOs and executive teams to develop holistic growth strategies, pursue organic and inorganic M&amp;A, and attain profitable growth aspirations.
Related Insights
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/how-top-performers-use-innovation-to-grow-within-and-beyond-the-core">How top performers use innovation to grow within and beyond the core</a>
<a href="https://www.mckinsey.com/capabilities/transformation/our-insights/breaking-the-mold-five-behaviors-of-leading-growth-transformers">Breaking the mold: Five behaviors of leading growth transformers</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/how-to-reignite-growth-through-adjacencies">How to reignite growth through adjacencies</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/innovative-growers-a-view-from-the-top">Innovative growers: A view from the top</a>
<a href="https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/courageous-growth-six-strategies-for-continuous-growth-outperformance">Courageous growth: Six strategies for continuous growth outperformance</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-triple-play-growth-profit-and-sustainability">The triple play: Growth, profit, and sustainability</a>

252. Growth leader mindsets and behaviors

Transformation is a complex undertaking that relies heavily on achieving behavioral change within an organization. Three McKinsey transformation and organizational health experts talk this week about the common pitfalls companies face when attempting to transform, and share tips for avoiding them.

Rajesh Krishnan is a senior partner in our New York office and a leader in our Transformation Practice. He counsels clients on identifying and delivering transformative and sustainable performance improvements, and is a founder of our capability building solution, the Ability to Execute or A2E. Tiffany Vogel is a partner in our Miami office, and is an expert in change management, leadership development, and agile product development. She focuses on financial institutions and state governments, and also serves on the faculty at the University of Southern California Marshall School of Business. And Matthew Schrimper is an associate partner in our Boston office. He helps clients improve performance through organizational change, and has expertise in large-scale transformations, culture and change management, as well as talent and operating model design.

Related insights

Breaking the mold: Five behaviors of leading growth transformers

Transformation with a capital T

How seven steps can help midsize industrials crack the transformation code

What does it take to run a healthy organization? Find out with this quiz

Help your employees find purpose—or watch them leave

What makes an organization ‘healthy’?

The yin and yang of organizational health

McKinsey Insights on Transformation

McKinsey Transformation on LinkedIn

McKinsey Strategy & Corporate Finance on LinkedIn

Transformation is a complex undertaking that relies heavily on achieving behavioral change within an organization. Three McKinsey transformation and organizational health experts talk this week about the common pitfalls companies face when attempting to transform, and share tips for avoiding them.
<a href="https://www.mckinsey.com/our-people/rajesh-krishnan">Rajesh Krishnan</a> is a senior partner in our New York office and a leader in our Transformation Practice. He counsels clients on identifying and delivering transformative and sustainable performance improvements, and is a founder of our capability building solution, the Ability to Execute or A2E. <a href="https://www.mckinsey.com/our-people/tiffany-vogel">Tiffany Vogel</a> is a partner in our Miami office, and is an expert in change management, leadership development, and agile product development. She focuses on financial institutions and state governments, and also serves on the faculty at the University of Southern California Marshall School of Business. And <a href="https://www.linkedin.com/in/matthew-schrimper/">Matthew Schrimper</a> is an associate partner in our Boston office. He helps clients improve performance through organizational change, and has expertise in large-scale transformations, culture and change management, as well as talent and operating model design.
Related insights
<a href="https://www.mckinsey.com/capabilities/transformation/our-insights/breaking-the-mold-five-behaviors-of-leading-growth-transformers">Breaking the mold: Five behaviors of leading growth transformers</a>
<a href="https://www.mckinsey.com/capabilities/rts/our-insights/transformation-with-a-capital-t">Transformation with a capital T</a>
<a href="https://www.mckinsey.com/capabilities/transformation/our-insights/how-seven-steps-can-help-midsize-industrials-crack-the-transformation-code">How seven steps can help midsize industrials crack the transformation code</a>
<a href="https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/what-does-it-take-to-run-a-healthy-organization-find-out-with-this-quiz">What does it take to run a healthy organization? Find out with this quiz</a>
<a href="https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/help-your-employees-find-purpose-or-watch-them-leave">Help your employees find purpose&mdash;or watch them leave</a>
<a href="https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/what-makes-an-organization-healthy">What makes an organization &lsquo;healthy&rsquo;?</a>
<a href="https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-yin-and-yang-of-organizational-health">The yin and yang of organizational health</a>
<a href="https://www.mckinsey.com/capabilities/transformation/our-insights">McKinsey Insights on Transformation</a>
<a href="https://www.linkedin.com/showcase/mckinsey-transformation/">McKinsey Transformation on LinkedIn</a>
<a href="https://www.linkedin.com/showcase/mckinsey-strategy-corporate-finance/posts/?feedView=all">McKinsey Strategy &amp; Corporate Finance on LinkedIn</a>

50. Transformation and resilience: An interview with Best Buy’s executive chairman Hubert Joly

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