Best Buy 2010 Annual Report Download - page 30
Download and view the complete annual report
Please find page 30 of the 2010 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.attributes: (i) more than $5 billion in revenue, (ii) retail HR’s compensation recommendations are aligned with
or wholesale operations, (iii) high growth rates, and our stated objectives and are reasonable when
(iv) significant revenue generated outside of the U.S. We compared to our peer market for executive and director
also used lists published by Business Week and Fortune talent. In addition, the engagement of an independent
magazines to identify companies recognized as top consultant enhances the overall independence of the
employers, innovators and customer service providers, Compensation Committee’s decision-making and
and other qualitative factors, for purposes of applying mitigates the potential for a conflict of interest involving
our selection criteria. Our peer group at the time the compensation consultant hired by HR. The Delves
compensation was determined for our named executive Group reports directly to the Compensation Committee
officers in fiscal 2010 was comprised of the following and does not provide any consulting or other services to
companies: us.
• Amazon.com, Inc. Role of Management Compensation Consultant in
Determining Compensation. HR has engaged a third-
• Apple Inc. party compensation consultant, Towers Watson, a global
• Costco Wholesale Corporation professional services firm, to assist in the development
and analysis of external compensation data that is used
• Dell Inc.
to facilitate HR’s executive and director compensation
• eBay Inc. recommendations to the Compensation Committee. At
the request of HR and with the consent of the
• FedEx Corporation
Compensation Committee, a representative of Towers
• Harley-Davidson, Inc. Watson regularly attends meetings of the Compensation
• Lowe’s Companies, Inc. Committee to address matters directly related to their
engagement, including questions regarding external
• Nordstrom, Inc. market data and related analyses. Towers Watson
• Staples, Inc. reports directly to HR and does not engage with the
Compensation Committee, except with regard to the
• Starbucks Corporation
aforementioned matters and at the request and under
• Target Corporation the direction of HR. Towers Watson also provides
non-executive compensation consulting and other
• The TJX Companies, Inc.
services to us expressly at the direction of HR and
• Wal-Mart Stores, Inc. without the direct engagement of the Compensation
• Walgreen Co. Committee.
• The Walt Disney Company Role of Chief Executive Officer in Determining
Compensation. Our CEO does not participate in or
• Whole Foods Market, Inc. otherwise influence HR’s compensation
• Yahoo! Inc. recommendations for himself. However, our CEO is
generally in attendance when HR presents compensation
Role of Independent Compensation Consultant in
recommendations to the Compensation Committee for
Determining Compensation. The Compensation
our other executive officers and provides his perspective
Committee reviews HR’s executive and director
regarding the recommendations. Our CEO’s
compensation recommendations with The Delves Group,
performance ratings of, and his comments about, his
an independent compensation consulting firm retained
direct reports impact the compensation of his direct
by the Compensation Committee. The Compensation
reports, but his input is only one of many factors
Committee believes that this review helps ensure that
considered in determining total compensation for those
30