CEO Talks The Talk and Walks The Walk

May 19, 2004

By George Anderson

Best Buy’s chief executive, Brad Anderson, has taken the highly unusual step of turning down 200,000 stock options with a potential value of $7.5 million that were part of his
compensation package, turning around and giving them to non-executive employees.

John Fossum, a professor at the University of Minnesota’s Carlson School of Management said of Mr. Anderson’s actions, “He’s saying, ‘The CEO is not the only one who contributes
to the success of the organization.’ ”

Professor Fossum added, “I’ve never heard of a situation like this before.”

Moderator’s Comment: What is your reaction to the chief executive of Best Buy, Brad Anderson, turning over stock options
with a value up to $7.5 million to non-executive employees of the company? What do you take from this if you’re running or working at another retail organization?

Brad Anderson is sending a powerful message to the stakeholders of Best Buy and is to be congratulated for his vision and actions.

We’ve never met Mr. Anderson but we would like to nominate him for the just made-up RetailWire “Gets It” award. His actions demonstrate leadership in a
business that has too few leaders in it.

George Anderson – Moderator

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