Richelle Parham
Director at BBY
Board
About Richelle P. Parham
Independent director of Best Buy since March 2018; age 57; educated at Drexel University. Currently President of Global e‑Commerce & Business Development at Universal Music Group, with prior senior roles at eBay (Chief Marketing Officer), Visa, Rapp Worldwide, and Digitas. Her core credentials are in e‑commerce, data‑driven decision‑making, customer marketing, and business strategy, aligning well with Best Buy’s growth and customer experience priorities .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| eBay, Inc. | Vice President and Chief Marketing Officer | 2010–2015 | Tasked with transforming brand reputation; focused on ROI improvement, new revenue streams, and reduced attrition via CRM/customer experience initiatives . |
| Visa, Inc. | Head, Global Marketing Innovation; Head, Global Marketing Services | 2008–2010; 2010 | Senior marketing leadership in global programs . |
| Rapp Worldwide | Senior Vice President, Strategy and Enablement | 2007–2008 | Strategy and enablement leadership . |
| Digitas (Bronner Slosberg Humphrey) | Various marketing leadership roles | 1994–2007 | Marketing roles across CRM and customer engagement . |
| Citibank (noted among career experiences) | Various roles | — | Corporate experience acknowledged in biography . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Universal Music Group | President, Global e‑Commerce & Business Development | June 2021–present | Oversees global e‑commerce strategy and business development across labels and territories . |
| WestRiver Group | Partner and Managing Director | 2019–2021 | Investment leadership role . |
| Camden Partners Holdings, LLC | General Partner | 2016–2019 | Private equity leadership . |
| Laboratory Corporation of America Holdings | Director | Current (as disclosed) | Current other public company directorship . |
| Scripps Network Interactive | Director | 2012–2018 | Prior public board service . |
| e.l.f. Cosmetics | Director | 2018–2022 | Prior public board service . |
Board Governance
- Independence: Independent director; Board determined all directors (except CEO) were independent under SEC/NYSE rules; committees comprised exclusively of independent directors .
- Committees: Compensation & Human Resources Committee member; Nominating, Corporate Governance & Public Policy Committee member. Neither committee lists her as chair (Compensation chair: David C. Kimbell; Nominating chair: Lisa M. Caputo) .
- Committee meeting cadence FY2025: Compensation (4 meetings); Nominating (4 meetings) .
- Attendance: Board held four regular meetings; each incumbent director attended at least 75% of Board and committee meetings on which they served. Directors are required to attend the regular meeting of shareholders .
- Continuing education: Board conducted continuing education seminars in September and December 2024 focusing on artificial intelligence; Nominating Committee oversees director orientation and continuing education .
- CR&S oversight: Nominating Committee oversees governance, public policy, corporate responsibility, and sustainability; Board shares CR&S risk oversight across committees .
- Governance safeguards: No director-related party transactions; anti-hedging and anti‑pledging policies for directors and officers; robust evaluation and accountability practices .
Fixed Compensation
| Component | FY2025 Amount | Notes |
|---|---|---|
| Annual Director Cash Retainer (Parham) | $100,000 | Paid in arrears quarterly . |
| Committee Chair Fees (if applicable) | $25,000 (Audit); $20,000 (Compensation); $20,000 (Nominating); $20,000 (Finance) | Parham was not a chair in FY2025 . |
| Non‑Executive Chair Retainer | $65,000 cash plus additional equity $135,000 (for chair only) | Not applicable to Parham. |
| Meeting Fees | Not disclosed | — |
Performance Compensation
| Equity Award Detail (Directors) | FY2025 Terms | Notes |
|---|---|---|
| Annual RSU Grant (Parham) | Grant date: June 12, 2024; value $195,000 translating to 2,258 RSUs | Dividend equivalents accrue; subject to same restrictions/vesting . |
| Vesting | RSUs fully vest one year from grant date and must be held until the director leaves the Board | Director equity awards prorated if departure before vest unless terminated for Cause . |
| Reported Stock Awards (Parham) | $195,046 (aggregate grant date fair value per ASC 718) | Recognized in FY2025 director compensation table . |
| Outstanding Units (as of Feb 1, 2025) | 2,332 unvested units; 17,853 deferred units (Parham) | Deferred units are vested but held until departure . |
| Options/Performance Metrics | No director options or performance‑conditioned equity disclosed; RSUs are time‑based | Directors have holding requirements until Board departure . |
Other Directorships & Interlocks
| Company | Role | Potential Interlocks/Conflicts |
|---|---|---|
| Laboratory Corporation of America Holdings | Director | No material related party transactions involving directors disclosed; Board independence affirmed . |
| Scripps Network Interactive (prior) | Director | Prior service; no conflicts disclosed . |
| e.l.f. Cosmetics (prior) | Director | Prior service; no conflicts disclosed . |
Expertise & Qualifications
- E‑commerce and digital: Leads global e‑commerce strategy at UMG; deep experience understanding digital consumers and executing at scale .
- Marketing and CRM: Transformed eBay’s brand reputation; improved ROI; built CRM to reduce attrition and enhance customer experience .
- Strategy and operations: Senior roles across eBay, Visa, Digitas, Citibank; lead high‑performing teams using analytical decision‑making .
- Education: Drexel University .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Beneficial Ownership (Parham) | 20,102 shares; less than 1% | Reflects RSUs countable under SEC rules as convertible to shares within 60 days upon leaving Board (see footnote structure for directors) . |
| Unvested RSUs (as of Feb 1, 2025) | 2,332 units | — |
| Deferred Units (as of Feb 1, 2025) | 17,853 units | Must be held until departure from Board . |
| Stock Ownership Guideline | 10,000 shares required for non‑management directors | Directors must retain 50% of granted equity (net of taxes) until target met; all directors in compliance in FY2025 . |
| Hedging/Pledging | Prohibited for directors and officers | Anti‑hedging and anti‑pledging policies in place . |
Governance Assessment
- Strengths: Independent director with domain expertise aligned to Best Buy’s strategy; active roles on Compensation and Nominating committees that oversee human capital, pay governance, and CR&S/public policy; strong attendance standard and continuing education focus (AI seminars); robust anti‑hedging/pledging and no director related party transactions disclosed .
- Alignment: Director compensation mix reflects meaningful equity with mandatory holding to Board departure; stock ownership guideline of 10,000 shares with compliance reported; beneficial ownership consistent with RSU holdings, supporting skin‑in‑the‑game .
- Compensation governance: Compensation Committee uses an independent consultant (FW Cook); independence reviewed and no conflicts found; strong shareholder support for pay program (2024 Say‑on‑Pay approval 91.8%)—a positive governance signal .
- Red flags: None disclosed regarding attendance shortfalls, related party transactions, hedging/pledging, or director‑level pay anomalies. Overboarding policy and retirement/resignation safeguards are in place at Board level .
Overall, Richelle Parham’s committee engagement, independence, equity holding requirements, and governance environment indicate constructive board effectiveness with low conflict risk and favorable investor‑confidence signals based on disclosed practices .