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0000764478-18-000047.txt : 20181003 0000764478-18-000047.hdr.sgml : 20181003 20181003163045 ACCESSION NUMBER: 0000764478-18-000047 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180928 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20181003 DATE AS OF CHANGE: 20181003 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEST BUY CO INC CENTRAL INDEX KEY: 0000764478 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731] IRS NUMBER: 410907483 STATE OF INCORPORATION: MN FISCAL YEAR END: 0202 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09595 FILM NUMBER: 181105411 BUSINESS ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 BUSINESS PHONE: 6122911000 MAIL ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 FORMER COMPANY: FORMER CONFORMED NAME: BEST BUYS CO INC DATE OF NAME CHANGE: 19900809 8-K 1 bby8-k10318.htm 8-K Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) September 28, 2018

BEST BUY CO., INC.

(Exact name of registrant as specified in its charter)



Minnesota	1-9595	41-0907483
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)



7601 Penn Avenue South
Richfield, Minnesota		55423
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (612) 291-1000

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 5.02	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On September 28, 2018, the Board of Directors (the “Board”) of Best Buy Co., Inc. ("Best Buy" or the "registrant") unanimously elected Cindy Kent as a director, effective immediately. Ms. Kent was most recently president and general manager of the Infection Prevention Division at 3M Co., a multinational corporation operating in the fields of industry, health care and consumer goods. Ms. Kent has over twenty-five years of health care experience through her prior roles at 3M Co., Medtronic, Inc., and Eli Lilly & Co.

Ms. Kent will be appointed to serve on a Board committee at a later date. Committee assignment(s), once determined, will be disclosed by the registrant in a Current Report on Form 8-K.

Ms. Kent will be compensated in accordance with the registrant’s standard compensation policies and practices for the Board, the components of which were disclosed in the registrant’s Proxy Statement for its 2018 Regular Meeting of Shareholders filed with the Securities and Exchange Commission on May 2, 2018, in the section titled “Director Compensation”.

There are no transactions or relationships between the registrant and Ms. Kent that are reportable under Item 404(a) of Regulation S-K.

Ms. Kent is expected to stand for election to the registrant's Board at the 2019 Regular Meeting of Shareholders.


Item 7.01	Regulation FD Disclosure.

On October 3, 2018, Best Buy issued a news release announcing the appointment of Ms. Kent to the Board as described above under Item 5.02. A copy of the news release is furnished as Exhibit 99.1 and incorporated herein by reference.

Best Buy's Annual Report to Shareholders and its reports on Forms 10-K, 10-Q and 8-K and other publicly available information should be consulted for other important information about the registrant.


Item 9.01	Financial Statements and Exhibits.

(d) Exhibits.

The following Exhibit 99.1 is furnished as an Exhibit to this Current Report on Form 8-K.



Exhibit No.		Description of Exhibit
99.1		News release issued October 3, 2018. Any internet address provided in this release is for information purposes only and is not intended to be a hyperlink. Accordingly, no information at any internet address is included herein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



		BEST BUY CO., INC.
		(Registrant)

Date: October 3, 2018	By:	/s/ KEITH J. NELSEN
		Keith J. Nelsen
		General Counsel & Secretary

EX-99.1 2 exhibit99110318.htm EXHIBIT 99.1 Exhibit

Exhibit 99.1

Best Buy Appoints Cindy Kent to Best Buy Board of Directors

MINNEAPOLIS, Oct. 3, 2018 - Best Buy Co., Inc. (NYSE:BBY) today announced that Cindy Kent, a seasoned health care executive, has been appointed to its Board of Directors, effective immediately.

Kent most recently served as president and general manager of the Infection Prevention Division at 3M Co., a global science company that manufactures and markets products and services across a range of industries.

Kent has more than 25 years of experience across a variety of roles and segments of the health care industry. Prior to joining 3M in 2013, she worked at medical device maker Medtronic, Inc. and pharmaceutical company Eli Lilly & Co.

“We are delighted to welcome Cindy to the Board,” Best Buy Chairman and CEO Hubert Joly said. “As part of our Best Buy 2020: Building the New Blue strategy, we are committed to enriching people’s lives through technology by addressing key human needs, including health and wellness. Cindy’s expertise in this area will be invaluable as we build on our existing efforts to grow a strong health and wellness business.”

“I have genuine respect for what Best Buy has accomplished in recent years and am excited to contribute to its overall customer-focused strategy, particularly its emphasis on the health and wellness of its customers,” Kent said. “I am honored to be able to lend my passion and experience in health care to the company as it pursues this next phase of its growth.”

Kent, 49, earned a bachelor’s degree in industrial engineering and management from Northwestern University. She also holds an MBA and a master of divinity from Vanderbilt University.