Best Buy Announces Executive and Director Changes
Ticker: BBY · Form: 8-K · Filed: Mar 7, 2024 · CIK: 764478
| Field | Detail |
|---|---|
| Company | Best Buy CO INC (BBY) |
| Form Type | 8-K |
| Filed Date | Mar 7, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-changes, compensation
Related Tickers: BBY
TL;DR
BBY shakes up exec team & board, compensation plans updated.
AI Summary
Best Buy Co., Inc. announced on March 5, 2024, changes in its executive team. The company appointed new officers and elected directors, alongside updates to executive compensation arrangements. These changes are effective as of March 5, 2024.
Why It Matters
Changes in key leadership and executive compensation can signal shifts in company strategy or financial priorities, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and operational direction.
Key Players & Entities
- BEST BUY CO., INC. (company) — Registrant
- March 5, 2024 (date) — Date of earliest event reported
- Minnesota (location) — State of incorporation
- 7601 Penn Avenue South (address) — Principal executive offices
- Richfield (location) — City of principal executive offices
- 55423 (postal_code) — Zip code of principal executive offices
- ( 612 ) 291-1000 (phone_number) — Registrant's telephone number
FAQ
What specific roles were affected by the executive changes?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers,' but does not specify the exact roles in the provided text.
When were these changes officially reported?
The Form 8-K was filed as of March 7, 2024, with the earliest event reported on March 5, 2024.
What is Best Buy's state of incorporation?
Best Buy Co., Inc. is incorporated in Minnesota.
Where are Best Buy's principal executive offices located?
Best Buy's principal executive offices are located at 7601 Penn Avenue South, Richfield, Minnesota 55423.
Are there any details about the new compensation arrangements?
The filing mentions 'Compensatory Arrangements of Certain Officers' as an item of disclosure, but the specific details of these arrangements are not provided in the excerpt.
Filing Stats: 937 words · 4 min read · ~3 pages · Grade level 10.7 · Accepted 2024-03-07 08:06:44
Key Financial Figures
- $0.10 — nge on which registered Common Stock, $0.10 par value per share BBY New York St
Filing Documents
- bby-20240305x8k.htm (8-K) — 83KB
- bby-20240305xex10_1.htm (EX-10.1) — 4KB
- bby-20240305x8kg001.jpg (GRAPHIC) — 130KB
- 0000764478-24-000006.txt ( ) — 462KB
- bby-20240305.xsd (EX-101.SCH) — 2KB
- bby-20240305_lab.xml (EX-101.LAB) — 19KB
- bby-20240305_pre.xml (EX-101.PRE) — 10KB
- bby-20240305x8k_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following are furnished as Exhibits to this Current Report on Form 8-K. Exhibit No. Description of Exhibit 10.1 Policy Regarding Shareholder Ratification of Executive Officer Cash Severance Agreements. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEST BUY CO., INC. (Registrant) Date: March 7, 2024 By: /s/ Todd G. Hartman Todd G. Hartman Executive Vice President, General Counsel, Chief Risk Officer and Secretary 3