In his final earnings call, Best Buy CEO Hubert Joly bids adieu and praises new leaders

Hubert Joly will pass the CEO baton to Corie Barry on June 11, but remain as executive board chair.

The routine was the same as it's been every three months or so for the past seven years. Analysts, investors and a smattering of media types dialed in Thursday to listen to Best Buy's top executives shed light on its quarterly earnings.

This was Best Buy chief executive Hubert Joly's final earnings call, and he carved out a notable chunk of time to talk about turning the company over to veteran Corie Barry, the current chief financial officer, on June 11.

Though scripted, Joly and Barry took the moment both to assure analysts of their "seamless transition" executives and state their mutual respect.

He commended the new leadership team, which includes promoting chief operating officer Mike Mohan as incoming president, not just for its talent but, in true Joly form, for its "culture, heart and soul."

Joly, the intense, French-born executive, became known for his high-fives, exuberance and use of words not often discussed at the Harvard Business School, such as using "human magic" to fuel the company.

"The company is in good hands," he said.

She commended the board for its "stunningly good decision" to hire "a Frenchman with no retail experience to save this company."

Said Barry: "He brought his remarkable brain, boundless energy and deep passion to the job."

It's not a denouement for Joly, exactly. He remains an employee of the company, and will continue to lead the board of directors, serve as Barry's strategic adviser and do government affairs work on behalf of the retailer.

Best Buy still faces challenges from Amazon, a trade war with China and the inherent volatility of being in the business of selling technology to consumers. But Joly leaves the post having resolved its most pressing issues: restoring Best Buy to profitability and returning respectability to the brand.

At a town hall meeting with employees on Thursday, Joly noted that he'd started packing up his office. He'll likely be within shouting distance of Barry's office.

Best Buy is undergoing a search process to replace Barry as top financial officer.