Best Buy board chair Doyle to step down; Kenny to become chair; new severance policy

BEST BUY CO INC

Director J. Patrick Doyle resigns effective June 12, 2024; replaced as Board Chair by David W. Kenny.
Director Eugene A. Woods will not stand for re-election at the June 2024 meeting, citing increased time commitments.
David C. Kimbell appointed Compensation and Human Resources Committee Chair, effective June 12, 2024.
New policy requires shareholder ratification for executive cash severance exceeding 2.99x base salary plus short-term incentive target.
Policy applies to new employment/severance agreements; Compensation Committee has sole authority to interpret.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

J. Patrick Doyle

Director and Board Chair

BBY · BEST BUY CO INC

Effective: 2024-06-12
Successor: David W. Kenny
Filed: March 7, 2024, 6:59 PM ET

director J. Patrick Doyle tendered a letter to the registrant’s Board of Directors (the “Board”), stating his intent to resign from, and not stand for re-election to, the Board effective as of the end of his term on June 12, 2024, the date of the Company’s Regular Meeting of Shareholders (the “Meeting”).

Departed

Eugene A. Woods

Director

BBY · BEST BUY CO INC

Effective: 2024-06-12
Filed: March 7, 2024, 6:59 PM ET

On March 5, 2024, Eugene A. Woods notified the Board that he would complete his term and would not stand for re-election at the Meeting.

Appointed

David W. Kenny

Board Chair

BBY · BEST BUY CO INC

Effective: 2024-06-12
Filed: March 7, 2024, 6:59 PM ET

The Board appointed David W. Kenny to be the Board Chair effective as of Mr. Doyle’s resignation on June 12, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

J. Patrick Doyle resigned as Director and Board Chair at BEST BUY CO INC.

Action: resigned
Role: Director and Board Chair

Exact text from the filing

director J. Patrick Doyle tendered a letter to the registrant’s Board of Directors (the “Board”), stating his intent to resign from, and not stand for re-election to, the Board effective as of the end of his term on June 12, 2024, the date of the Company’s Regular Meeting of Shareholders (the “Meeting”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Eugene A. Woods departed as Director at BEST BUY CO INC.

Action: not stand for re-election
Role: Director

Exact text from the filing

On March 5, 2024, Eugene A. Woods notified the Board that he would complete his term and would not stand for re-election at the Meeting.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

David W. Kenny was appointed as Board Chair at BEST BUY CO INC.

Action: appointed
Role: Board Chair

Exact text from the filing

The Board appointed David W. Kenny to be the Board Chair effective as of Mr. Doyle’s resignation on June 12, 2024.

View on SEC.gov

BEST BUY CO INC filing history →

Source: SEC EDGAR

accession 0000764478-24-000006

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.