David Kenny
About David W. Kenny
David W. Kenny, age 63, is Best Buy’s independent Chair of the Board, serving since June 12, 2024, and a director since September 2013. He is Executive Chairman (formerly CEO) of Nielsen with prior senior roles at IBM Watson/Cloud, The Weather Company, Akamai, VivaKi, and as founder/CEO of Digitas, bringing deep expertise in data/analytics, technology, and customer engagement. He holds degrees from GM Institute (Kettering University) and Harvard University. The Board has affirmatively determined his independence and specifically reviewed Best Buy’s immaterial relationship with Nielsen (well below 2% of Nielsen revenues; he did not influence negotiations).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Nielsen | Executive Chairman | 2023–present | Consumer insights and measurement leadership; prior CEO overseeing transformation |
| Nielsen | CEO & Board Director | Dec 2018–2023 | Led global measurement/data analytics strategy |
| IBM | SVP, IBM Watson; IBM Cloud | 2016–2018 | Led AI and cloud growth initiatives |
| The Weather Company | Chairman & CEO | 2012–2015 | Built media, analytics platform; climate-related content |
| Akamai | President | 2011–2012 | Online infrastructure leadership |
| VivaKi | Managing Partner | 2006–2010 | Digital marketing and technology strategy |
| Digitas | Founder & CEO | 1997–2006 | E-commerce and multichannel marketing pioneer |
External Roles
| Category | Company/Institution | Role | Notes |
|---|---|---|---|
| Current public boards | — | — | None |
| Prior public boards | Yahoo; Akamai; Digitas; Nielsen | Director | 25 years of public board experience |
Board Governance
- Role: Independent Chair overseeing agenda, executive sessions, strategic alignment, risk oversight, and shareholder meeting presiding. The Board re-appointed him Chair for fiscal 2026 subject to re-election.
- Independence: Board determined Kenny is independent; reviewed Best Buy’s vendor relationship with Nielsen (data analytics since 1999) and found it immaterial (payments well below 2% of Nielsen revenues; Kenny did not participate in negotiations).
- Attendance: In fiscal 2025, the Board held 4 regular meetings; each incumbent director attended at least 75% of Board and committee meetings. Independent directors hold executive sessions at each regular Board meeting.
- Committees: All committees are fully independent; fiscal 2025 membership lists do not include Kenny (he served as Compensation Chair through June 12, 2024, then became non-executive Chair).
- Committee meeting cadence FY2025: Audit (9), Compensation & Human Resources (4), Finance & Investment Policy (4), Nominating/Corporate Governance & Public Policy (4).
- Continuing education: Board seminars held Sept and Dec 2024 focused on artificial intelligence.
- Anti-hedging/pledging: Directors prohibited from hedging or pledging company securities.
- Stock ownership guidelines: Non-management directors must own 10,000 shares, retain 50% of granted equity until met, and hold RSUs until leaving Board; all directors were in compliance in fiscal 2025.
Fixed Compensation (Director pay FY2025)
| Component | Amount | Notes |
|---|---|---|
| Annual director retainer (cash) | $100,000 | Paid quarterly; prorated if partial-year service |
| Non-executive Chair cash retainer | $65,000 | Part of additional $200,000 Chair compensation (cash + equity) |
| Committee chair retainers | Audit $25,000; Compensation $20,000; Nominating $20,000; Finance $20,000 | Paid to respective chairs; prorated as applicable |
| Deferred Compensation Plan | Up to 100% of retainers deferrable; no company match | Annual election; no company contributions |
| David W. Kenny – FY2025 cash paid | $149,052 | Fees earned or paid in cash as reported |
Performance Compensation (Equity)
| Grant Date | Type | RSUs Granted | Grant-Date Fair Value | Vesting/Terms |
|---|---|---|---|---|
| June 12, 2024 | Annual director RSUs | 2,258 | ~$195,000 | Vest 1 year from grant; dividend equivalents; RSUs held until director leaves Board |
| June 12, 2024 | Additional Chair RSUs | 1,563 | ~$135,000 | Same vest/holding terms as above |
| David W. Kenny – FY2025 stock awards | — | — | $330,058 | Aggregate grant-date fair value of FY2025 director stock awards |
- Mix and alignment: Kenny’s FY2025 pay was ~69% equity ($330,058 of $479,110 total), reinforcing shareholder alignment via mandatory holding requirements and ownership guidelines.
Other Directorships & Interlocks
| Topic | Detail |
|---|---|
| Current public boards | None |
| Prior public boards | Yahoo; Akamai; Digitas; Nielsen |
| Related-party assessments | Board reviewed Best Buy’s payments to Nielsen and determined relationship immaterial and non-impairing to independence (well below 2% revenue; no Kenny involvement). |
| Policy backdrop | Written Related Party Transactions Policy requires Audit Committee/Board approval; only listed related party items in FY2025 involved Founder Emeritus arrangements and an executive’s fiancée employment, not Kenny. |
Expertise & Qualifications
- CEO/Executive leadership across data/analytics, cloud/AI, and digital media; founder experience in e-commerce marketing.
- Technology and analytics orientation (IBM Watson/Cloud; The Weather Company); consumer insights via Nielsen.
- Corporate governance and transformation expertise; extensive public board experience.
Equity Ownership
| Metric (as of Mar 31, 2025 unless noted) | Value | Notes |
|---|---|---|
| Beneficial ownership (shares) | 45,312 | RSUs that would convert to shares if he left the Board within 60 days |
| Shares outstanding (record date Apr 14, 2025) | 211,685,537 | For % ownership calculation |
| Ownership % of outstanding | ~0.021% | Derived from 45,312/211,685,537 |
| Unvested RSUs | 3,928 | As of Feb 1, 2025 |
| Deferred (vested, held until departure) RSUs | 41,524 | As of Feb 1, 2025 |
| Ownership guideline status | In compliance | All non-management directors in compliance FY2025 |
| Hedging/Pledging | Prohibited | Company policy prohibits both for directors |
Governance Assessment
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Strengths: Independent Chair with clear governance responsibilities; fully independent committees; robust independence review of potential conflicts; mandatory equity holding and ownership guidelines; anti-hedging/pledging; consistent shareholder support (avg Say-on-Pay 93.1% over last five years). These factors support investor confidence in board oversight.
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Potential red flags: Ongoing vendor relationship with Nielsen while Kenny serves as Executive Chairman; however, Board determined payments were well below 2% of Nielsen revenues, Kenny did not participate in negotiations, and independence is not impaired. Continued monitoring advisable.
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Attendance/engagement: Board met 4 times; each incumbent director met the 75% threshold; independent directors meet in executive session at each regular meeting; Board undertook AI-focused education in FY2025, indicating active engagement with key strategic risks.