Best Buy 2009 Annual Report Download - page 34

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Fiscal 2009 Fiscal 2008 Percent
Name Base Salary Base Salary Change Key Factors
Mr. Willett 850,000 700,000 21.4% Internal Factors:
• Third-highest ranking role in our company, however, the
role is multi-faceted and was deemed to have a higher
strategic value than typical third-ranking executive role
• Leader of key international operations needed to
aggressively grow revenue over the next five years
• Demonstrated strategic ability to create mutually
beneficial relationships with third parties
• Provides a critical global perspective based on retailing
experience outside of the U.S., with understanding of
social, political, and regulatory risks and opportunities
External Factors:
• Total direct compensation between median and
75th percentile of Fortune 100 and peer group
• More valuable role than most ‘‘Heads of International,’’
due to the high strategic importance of the position, the
aggressiveness of our international growth strategy
relative to our peer group and Mr. Willett’s dual role as
chief international executive and chief information officer
for our company
Ms. Ballard 650,000 550,000 18.2% Internal Factors:
• Leader of our core domestic retail business
• Directly responsible for deepening customer relationships
to deliver growth across multiple channels
• Strong motivator and powerful brand representative
• Ultimate collaboration catalyst; brings individuals,
functions and organizations together to accomplish
things otherwise not possible
External Factor:
• Total direct compensation below median of Fortune 100
and between median and 75th percentile of the peer
group range
Mr. Morrish’s base salary increased by 15.9% during line with the total compensation paid to other executive
fiscal 2009 to $478,950 from $413,288. The increase vice presidents with similar scopes of responsibility.
was made at the time of Mr. Morrish’s promotion from Short-Term Incentive. For fiscal 2009, the named
Senior Vice President — PC and Mobility Solutions to executive officers were eligible for performance-based,
Executive Vice President — Connected Digital Solutions. short-term incentive awards pursuant to our Executive
Mr. Morrish’s compensation was determined through Officer STIP. Executive Officer STIP awards, payable in
application of our Executive Compensation Framework, cash, were expressed as a percentage ranging from
with emphasis on positioning his total compensation in 125% to 200% of each named executive officer’s base
34