Minneapolis -- A Tuesday report by Bloomberg said that Best Buy compensation consultant Don Delves resigned after Best Buy awarded more than 100 managers retention bonuses that weren’t tied to performance. Citing people familiar with the matter, Bloomberg reported that Delves – who is president of Chicago-based Delves Group and was retained by the Best Buy board -- was strongly opposed to the payments. He has worked with the retailer’s compensation committee for seven years as an independent consultant. CFO James Muehlbauer and U.S head Michael Vitelli are said to be among executives awarded extra pay as incentive
Best Buy announced Tuesday it's expanding the Best Buy Mobile brand and store-within-a-store concept into 14 five-star stores throughout Nanjing, China, this summer. The expansion of Best Buy Mobile into the Chinese market is the first evolution of Global Connect, a partnership that was formed in November 2011 between Best Buy and Carphone Warehouse. "The launch of Best Buy Mobile in China is a true global effort,” said Shari Ballard, president, international for Best Buy.
Minneapolis -- Best Buy announced that Shari Ballard and Mike Vitelli, who had both been president of Best Buy's domestic business, will take on separate jobs, effective immediately. The retailer, which posted disappointing holiday results, said it was undertaking the changes to accelerate its strategy by aligning the company's senior operating talent with its highest priorities. Ballard, who joined Best Buy in 1993 as an assistant store manager, was named president of the international business, which includes stakes in China, Canada, Mexico and Europe. Vitelli, who joined Best Buy in 2004 after 23 years at Sony Electronics, will continue