Best Buy 2009 Annual Report Download - page 26

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EXECUTIVE COMPENSATION
• David J. Morrish, former Executive Vice
Compensation Discussion and Analysis
President — Connected Digital Solutions.
Our Compensation Discussion and Analysis describes
For fiscal 2009, the named executive officers generally
the material elements of compensation for our ‘‘named
participated in the same compensation programs and
executive officers’’ who are:
were evaluated similarly. However, Mr. Morrish
• Bradbury H. Anderson, Vice Chairman and Chief voluntarily terminated his employment with us effective
Executive Officer; February 28, 2009, and is included as a named
• James L. Muehlbauer, Executive Vice President — executive officer as a result of the payment he received
Finance and Chief Financial Officer; pursuant to our Voluntary Separation Program, as
described below. In some instances, Mr. Morrish was
• Brian J. Dunn, President and Chief Operating evaluated under a different set of factors than the other
Officer; named executive officers.
• Robert A. Willett, Chief Executive Officer — Best
Buy International and Chief Information Officer;
• Shari L. Ballard, Executive Vice President — Retail
Channel Management; and
For ease of use, the Compensation Discussion and Analysis is divided into three sections:
Page
•Compensation Philosophy, Objectives and Process
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. 26
•Compensation for Named Executive Officers
A discussion and analysis of individual compensation elements and the process used to determine fiscal
2009 compensation for our named executive officers. 31
•Other Compensation Matters
A discussion of programs and policies which are generally applicable to the named executive officers. 39
critical to provide a rewarding employee experience.
Compensation Philosophy, Objectives and
Collectively, these elements comprise our ‘‘Total
Process
Rewards’’ philosophy. We believe this company-wide
‘‘Total Rewards’’ Philosophy. We believe our success approach to attracting, motivating and retaining talent is
depends on employees at all levels using their unique a competitive advantage.
strengths, experiences and ideas to foster innovation
Our Total Rewards philosophy seeks to:
and build strong customer relationships. While our
compensation and benefit programs are important tools • Provide employees a wide array of rewards;
in attracting and retaining talented employees, we also
• Differentiate rewards to individuals, based on
believe that non-monetary factors such as work
their contributions;
environment, learning and development opportunities,
and relationships between employees and managers are
26