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) March 16, 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 March 16, 2018, the Board of Directors (the “Board”) of Best Buy Co., Inc. ("Best Buy" or the "registrant") unanimously elected Richelle P. Parham as a director, effective immediately. Ms. Parham is currently a general partner at Camden Partners Holdings, LLC, a strategy and investment firm focused on small- to mid-size companies in the technology, business services, education and healthcare sectors. Ms. Parham has over twenty-five years of global strategy and marketing experience through her prior roles at eBay, Visa, Rapp Worldwide, Digitas and Citibank.

Ms. Parham 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. Parham 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 2017 Regular Meeting of Shareholders filed with the Securities and Exchange Commission on May 1, 2017, in the section titled “Director Compensation”.

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

Ms. Parham is expected to stand for election to the registrant's Board at the 2018 Regular Meeting of Shareholders.

Item 7.01	Regulation FD Disclosure.	

On March 22, 2018, Best Buy issued a news release announcing the appointment of Ms. Parham 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 March 22, 2018 (furnished pursuant to Item 7.01) . 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.	

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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: March 22, 2018	By: 	/s/ KEITH J. NELSEN	
 	 	Keith J. Nelsen	
 	 	General Counsel & Secretary	

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Exhibit 99.1

Best Buy Appoints Richelle Parham to Best Buy Board of Directors

MINNEAPOLIS, March 22, 2018 - Best Buy Co., Inc. (NYSE:BBY) today announced that Richelle Parham has been appointed to its Board of Directors, effective immediately.

Parham is a general partner at Camden Partners Holdings, a Baltimore-based private equity firm focused on providing growth and seed capital to lower-middle-market companies in technology, business services, education and health care.

Parham is a seasoned executive with more than 25 years of global strategy and marketing experience. Prior to joining Camden Partners Holdings in 2016, she served as vice president and chief marketing officer of eBay. She has also held senior leadership roles at Visa, Rapp Worldwide, Digitas and Citibank.

“Richelle has a proven track record in global strategy and marketing — especially personalized digital marketing — and a deep understanding of e-commerce and the fundamental needs of consumers,” said Best Buy Chairman and CEO Hubert Joly. “Her expertise and insights will have great value as we move forward with our Best Buy 2020: Building the New Blue growth strategy.”

“I am delighted to join the Board and look forward to working with Hubert and the other directors as Best Buy continues to execute on its vision to enrich people’s lives through technology,” Parham said.

Parham, 50, also serves as a board member for Laboratory Corporation of America Holdings (NYSE: LH).

She earned a bachelor of science business administration degree in marketing and a bachelor of science degree in design and merchandising from Drexel University, where she now serves on the board of trustees.

Investor Contact: 
Mollie O’Brien, 612-291-7735
mollie.obrien@bestbuy.com

Media Contact: 
Jeff Shelman, 612-291-6114
jeffrey.shelman@bestbuy.com