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by Michael J. Shapiro | August 20, 2012

Hospitality and travel giant Carlson named Trudy Rautio the new president and CEO on Sunday, as former chief Hubert Joly has departed to take the president and CEO position at ailing electronics retailer Best Buy. Rautio, who becomes only the fifth CEO in Carlson's 74-year history, has served as the company's executive vice president and chief financial and administrative officer for the past eight years. She was responsible for directing all of Carlson's financial and information technology operations. Joly, who will begin his new job in September, held the top Carlson position since 2008; previously, he was president and CEO of Carlson Wagonlit Travel, Carlson's TMC subsidiary. Rautio now becomes Carlson's second female president and CEO, following Marilyn Carlson Nelson, who remains the company's board chair and co-owner.