Best Buy 2009 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2009 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

Executive Compensation Framework consists of a set of Compensation Framework and our flexibility in their
internal and external factors that allow for a application allows us to attribute appropriate value to
comprehensive, multi-faceted evaluation of total each individual and enhances our ability to develop
compensation based on each individual’s personal compensation packages that (i) further our
attributes and talents, and objective external market compensation objectives, (ii) further one or more of our
data. The factors are not required to carry equal weight, strategic initiatives, (iii) maximize each individual’s
but are all considered in determining the compensation perceived value of his or her total compensation and
recommendation for each individual. We believe that (iv) produce the highest return on our compensation
the diversity of the factors included in our Executive investment.
For fiscal 2009, the internal and external factors that comprised our Executive Compensation Framework were as
follows:
Factor Description
Internal Job Value The internal value of the position relative to other executive officer positions,
based on the primary job responsibilities, expected scope and nature of the
job’s impact — relative rank within the organization depends upon the extent
to which the executive will be accountable for specific enterprise strategic and
operational challenges.
Personal Attributes The executive’s industry and functional knowledge, intuition and insight,
diversity of experience, entrepreneurial disposition and personal networks — in
order to be considered for compensation purposes, these factors must be
highly related to the success of the business strategies to be led by the
executive.
Leadership/Values The executive’s demonstration of our values, and ability to inspire and
influence others.
Talent Development The executive’s ability to cultivate talent that enhances business results,
including succession planning.
Existing Compensation The executive’s outstanding equity awards, performance-based incentives and
Arrangements compensation history.
External Peer Group Observations Includes publicly available information regarding actions taken by peer
companies to attract and retain senior leadership talent.
Market Data Includes compensation data for our peer group of companies (as determined
by the Compensation Committee), the Fortune 100 companies and other salary
surveys.
We assessed the internal factors contained in the party executive coaches and each individual personally.
Executive Compensation Framework for each of the The profiles contain analyses and information regarding
continuing named executive officers based on a review factors similar to the internal factors contained in the
of executive profiles developed for succession planning Executive Compensation Framework. The internal factors
purposes. The individual profiles were developed were applied to Mr. Anderson based on an evaluation
through a comprehensive process, which included of his performance conducted by the Board.
discussions with the CEO, the individuals’ peers, third-
28