Brad Anderson (executive)
Brad Anderson | |
|---|---|
| Born | April 29, 1949 Sheridan, Wyoming, U.S. |
| Occupation | Consumer electronics retail executive |
| Years active | 1973–2009 |
| Known for | CEO and vice chairman of Best Buy |
Bradbury "Brad" Anderson (born April 29, 1949) is a former American consumer electronics retail executive who served as the CEO and vice chairman of Best Buy.
Early life and education
Anderson was born and grew up in Sheridan, Wyoming. He earned an Associate of Arts degree from Waldorf College and later obtained a bachelor's degree from the University of Denver.
Career
In 1973, Anderson began his career at Sound of Music, a modest chain of stereo shops that eventually evolved into Best Buy, starting as a commissioned salesperson. By 1981, Best Buy’s founder, Richard Schulze, appointed him as vice president. Over the following years, Anderson and Schulze transformed the company’s model from a commission-based retail approach to a discount, warehouse-style format.
Anderson advanced to executive vice president in 1986 and joined Best Buy’s board of directors. He was promoted to president and chief operating officer in April 1991, became vice chairman in 2001, and took on the role of CEO in June 2002. His tenure as CEO concluded in June 2009 when Brian J. Dunn, then president and COO, succeeded him.
Beyond his executive roles at Best Buy, Anderson serves on the Board of Regents at Waldorf College and holds a position on the board of directors for General Mills. Additionally, he is a board member of PragerU, an educational platform known for producing videos with a conservative perspective.
Compensation
During the 2006 fiscal year, his salary amounted to $1,164,283, accompanied by a bonus totaling $2,692,250. For the 2007 fiscal year, his total earnings reached $5.6 million, which included a salary of $1,172,995 and incentive-plan compensation of $2,650,969. In 2008, his overall compensation was reported at $49.3 million. This figure comprised a salary of $1,172,995, incentive-plan payments of $1,994,092, stock awards valued at $413,635 with no option awards granted that year, and a substantial $46.08 million derived from the exercise of 1.05 million stock options.
References
External links
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