---
schema_version: "secwatch.filing_event.v1"
accession: "0000764478-24-000006"
form_type: "8-K"
ticker: "BBY"
cik: "0000764478"
company_name: "BEST BUY CO INC"
filed_at: "2024-03-07T23:59:59+00:00"
generated_at: "2026-06-05T02:08:46.563040+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000764478-24-000006
- form_type: 8-K
- ticker: BBY
- cik: 0000764478
- company_name: BEST BUY CO INC
- filed_at: 2024-03-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764478/000076447824000006/0000764478-24-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764478/000076447824000006/bby-20240305x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000764478-24-000006
- JSON: https://secwatch.observer/filing/0000764478-24-000006.json
- Plain text: https://secwatch.observer/filing/0000764478-24-000006.txt

## Key facts
- Executive change
  J. Patrick Doyle resigned as Director and Board Chair at BEST BUY CO INC.
  - Action: resigned
  - Role: Director and Board Chair
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/764478/000076447824000006/0000764478-24-000006-index.htm
- Executive change
  Eugene A. Woods departed as Director at BEST BUY CO INC.
  - Action: not stand for re-election
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764478/000076447824000006/0000764478-24-000006-index.htm
- Executive change
  David W. Kenny was appointed as Board Chair at BEST BUY CO INC.
  - Action: appointed
  - Role: Board Chair
  source text: The Board appointed David W. Kenny to be the Board Chair effective as of Mr. Doyle’s resignation on June 12, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764478/000076447824000006/0000764478-24-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.