Corie S. Barry
Also at Best Buy Co Inc
About
Corie S. Barry began her career at Best Buy in 1999 after graduating from the College of St. Benedict and gaining early experience as an auditor at Deloitte & Touche LLP. Her early years at Best Buy involved working in various financial and operational roles where she developed a deep understanding of the company’s strategic and growth imperatives.
Throughout her career at Best Buy, she assumed increasing responsibilities, serving as Vice President of Finance for the Home Customer Solutions Group, then moving on to roles such as Senior Vice President of Domestic Finance, and later as Chief Financial Officer and Chief Strategic Transformation Officer. These roles enabled her to spearhead significant initiatives aimed at transforming the organization’s digital and operational strategies.
Since her appointment as CEO in 2019, she has been at the forefront of Best Buy's strategic transformation, leading initiatives that include digital integration, the launch of innovative programs like the In-Home Consultation program, and a focus on reimagining the customer experience. In addition to her executive duties, she plays an active role in the broader business community through board memberships and leadership roles in organizations dedicated to mentoring and empowering women.
$BBY Performance Under Corie S. Barry
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Best Buy Co., Inc. | Chief Financial Officer & Chief Strategic Transformation Officer | 2016-2019 | Oversaw strategic transformation, digital & technology, global finance, investor relations, enterprise risk & compliance, integration management, and Best Buy Health |
| Best Buy Co., Inc. | Chief Strategic Growth Officer & Interim President, Services | 2015-2016 | Focused on strategic growth initiatives and led the services organization on an interim basis |
| Best Buy Co., Inc. | Senior Vice President, Domestic Finance | 2013-2015 | Managed domestic finance operations |
| Best Buy Co., Inc. | Vice President, Chief Financial Officer & Business Development, Home Business Group | 2012-2013 | Oversaw financial operations and business development for the Home Business Group |
| Best Buy Co., Inc. | Vice President, Finance – Home Customer Solutions Group | 2010-2012 | Managed financial operations for the Home Customer Solutions Group |
| Deloitte & Touche LLP | Auditor | N/A | Worked as an auditor before joining Best Buy in 1999 |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Domino's Pizza, Inc. | Board of Directors | N/A | Active board membership |
| College of St. Benedict | Board of Trustees | N/A | Active board role |
| Business Roundtable, Business Council, Retail Industry Leaders Association, Minnesota Business Partnership | Executive Committee Member | N/A | Serves on the Executive Committee for all listed organizations |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,325,000 | 53-week fiscal year | Actual earnings including off-cycle adjustments approved during the fiscal year. |
| Retirement Plan Contribution | $12,000 | Annually | Company matching contributions to the Retirement Savings Plan. |
| Life Insurance Premiums | $641 | Annually | Premiums for group term life insurance coverage. |
| Other Compensation | $134,599 | As incurred | Includes supplemental executive long-term disability insurance, private jet lease costs for board meetings, executive physical, and tax preparation services. |
Performance Compensation
Short-Term Incentive (STI)
| Component | Metric/Condition | Weight | Target/Fair Value | Actual Outcome/Details |
|---|---|---|---|---|
| Operating Income | Compensable Enterprise Operating Income | 45% | N/A | Incorporated in the performance score |
| Revenue | Compensable Enterprise Revenue | 35% | N/A | Incorporated in the performance score |
| CR&S | Corporate Responsibility & Sustainability | 20% | N/A | Evaluated qualitatively |
| Target Payout | Based on 200% of annual base salary | N/A | $2,600,000 | Designed target payout for fiscal 2024 |
| Actual STI Payment | Overall performance multiplier of 0.7585 | N/A | N/A | $1,972,101 paid after applying performance score |
Long-Term Incentive (LTI)
| Award Type | Performance Metric | Threshold | Target | Maximum | Vesting Schedule | Grant Date Fair Value | Share Quantity / Units |
|---|---|---|---|---|---|---|---|
| Performance Share Awards | Relative Total Shareholder Return (TSR) | 30th percentile (50% target shares) | 50th percentile (100% target shares) | 70th percentile (150% target shares) | Based on TSR performance over a three‐year period | $5,499,501 | 63,249 target; 94,874 maximum |
| Time-Based Restricted Shares | Not performance driven | N/A | N/A | N/A | Vests in three equal installments on the first, second, and third anniversaries | $5,500,039 | 70,396 |
Evaluation Period: Fiscal 2024 performance for STI with LTI performance measured over a three-year period.
This detailed breakdown outlines the compensation components, performance metrics, targets, and vesting conditions along with exact dollar amounts and share quantities as provided in the documents.