Best Buy (BBY) Updates on CEO Search Committee; Director Rebolledo Resigns
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Price: $85.73 -3.9%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.3%
Revenue Growth %: +1.1%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.3%
Revenue Growth %: +1.1%
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In keeping with its commitment to run an open and transparent search process, the board of directors of Best Buy Co., Inc. (NYSE: BBY) is announcing the membership of a CEO search committee. The committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan, who will bring new leadership to the company.
As part of that commitment to transparency, the board will also publicly announce the selected search firm and will post the position on the company website. The final search firm selection will be announced in the next few weeks.
Kathy J. Higgins Victor, who also serves as chairwoman of the Nominating, Corporate Governance and Public Policy Committee and a member of the Compensation and Human Resources Committee, will chair the search committee. Yesterday, during a regularly scheduled quarterly board meeting, additional search committee members were confirmed:
Additionally, the board accepted the resignation of director Rogelio M. Rebolledo and is filing an associated Form 8-K. Rebolledo became a director in August of 2006. In 2007, he retired from his position as chairman of PBG Mexico, the Mexican operations of The Pepsi Bottling Group, Inc.
As part of that commitment to transparency, the board will also publicly announce the selected search firm and will post the position on the company website. The final search firm selection will be announced in the next few weeks.
Kathy J. Higgins Victor, who also serves as chairwoman of the Nominating, Corporate Governance and Public Policy Committee and a member of the Compensation and Human Resources Committee, will chair the search committee. Yesterday, during a regularly scheduled quarterly board meeting, additional search committee members were confirmed:
- Lisa Caputo, member of the Nominating, Corporate Governance and Public Policy Committee and the Global Strategy Committee;
- Ronald James, chair of the Compensation and Human Resources Committee and member of the Finance and Investment Policy Committee; and
- Sanjay Khosla, chair of the Global Strategy Committee and member of the Nominating, Corporate Governance and Public Policy Committee.
Additionally, the board accepted the resignation of director Rogelio M. Rebolledo and is filing an associated Form 8-K. Rebolledo became a director in August of 2006. In 2007, he retired from his position as chairman of PBG Mexico, the Mexican operations of The Pepsi Bottling Group, Inc.
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