Best Buy 2010 Annual Report Download - page 13

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As previously announced, Committee membership is scheduled to change after the June 2010 Meeting as presented
below:
Committee Members
Audit Hatim A. Tyabji*†
George L. Mikan III†
Matthew H. Paull†
G´
erard R. Vittecoq†
Compensation and Human Resources Ronald James*
Kathy J. Higgins Victor
George L. Mikan III
Hatim A. Tyabji
Nominating, Corporate Governance and Public Policy Kathy J. Higgins Victor*
Sanjay Khosla
Rogelio M. Rebolledo
Finance and Investment Policy Elliot S. Kaplan*
Ronald James
Matthew H. Paull
G´
erard R. Vittecoq
Global Strategy Committee Sanjay Khosla*
Lisa M. Caputo
Rogelio M. Rebolledo
* Chairman
† Designated as an ‘‘audit committee financial expert’’ per SEC rules.
In connection with the Board’s oversight function, each
Board Risk Oversight
of the committees of the Board has principal
Our Board is responsible for oversight of enterprise risk. responsibility for reviewing and discussing with
The Board considers enterprise risk factors as a critical management those risk exposures (i) specified in their
element of its review of business strategy and charters, or (ii) identified from time to time by the
performance and ensures that there is an appropriate committees themselves, as follows:
balance of risk and opportunity. Management is
• Our Audit Committee is responsible for oversight
responsible for the day-to-day risk management
of risk associated with our financial controls and
processes and their activities include assessing and
compliance activities. The Audit Committee also
taking actions necessary to manage risk incurred in
oversees management’s processes to identify and
connection with the operation of our business.
quantify the material risks facing us. Our internal
Management reviews significant enterprise risks and our
audit staff, who report directly to the Audit
general risk management strategy with the Board. We
Committee, assists us in identifying, evaluating
believe this division of responsibilities is the most
and implementing risk management controls and
effective approach for addressing the risks we face and
procedures to address identified risks. Internal
that our Board leadership structure supports this
audit reports to the Audit Committee at least
approach.
quarterly. In connection with its risk oversight
13