Best Buy 2010 Annual Report Download - page 26

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EXECUTIVE AND DIRECTOR COMPENSATION
• John E. Pershing, former Executive Vice
Compensation Discussion and Analysis
President — Human Capital; and
Our Compensation Discussion and Analysis describes
• Robert A. Willett, former Chief Executive
the material elements of compensation for our ‘‘named
Officer — Best Buy International.
executive officers’’ who are:
For fiscal 2010, the named executive officers generally
• Brian J. Dunn, Chief Executive Officer;
participated in the same compensation programs and
• James L. Muehlbauer, Executive Vice President — were evaluated similarly, with the exception of
Finance and Chief Financial Officer; Mr. Wheway’s program which is tailored to our
• Shari L. Ballard, Executive Vice President, European business. Mr. Anderson retired from the
President — Americas*; position of CEO effective June 24, 2009, and is
included as a named executive officer as a result of his
• Michael A. Vitelli, Executive Vice President, former CEO status. Likewise, Mr. Willett retired from our
President — Americas*; company effective January 4, 2010, and Mr. Pershing
• J. Scott Wheway, Chief Executive Officer — left us on February 5, 2010. Based on SEC rules, we
Best Buy Europe; are required to include Messrs. Anderson, Pershing and
Willett as named executive officers in this proxy
• Bradbury H. Anderson, Vice Chairman and
statement. Hereinafter, Messrs. Dunn, Muehlbauer,
former Chief Executive Officer;
Vitelli, Wheway and Ms. Ballard are referred to as our
continuing named executive officers.
* Ms. Ballard and Mr. Vitelli’s titles changed effective March 1, 2010 to the titles listed above.
For ease of use, our Compensation Discussion and Analysis is divided into three sections:
Page
Compensation Philosophy, Objectives and Process 26
A discussion of our compensation philosophy for all employees, the objectives of our compensation programs
and policies, and the process we use to determine compensation for our named executive officers.
Compensation for Named Executive Officers 32
A discussion and analysis of individual compensation elements and the process used to determine fiscal 2010
compensation for our named executive officers.
Other Compensation Matters 43
A discussion of programs and policies which are generally applicable to the named executive officers.
compensation and benefit programs are important tools
Compensation Philosophy, Objectives and
in attracting and retaining talented employees, we also
Process
believe that non-monetary factors such as work
‘‘Total Rewards’’ Philosophy. We believe our success environment, learning and development opportunities,
depends on employees at all levels using their unique and relationships between employees and managers are
strengths, experiences and ideas to foster innovation critical to provide a rewarding employee experience.
and build strong customer relationships. While our
26