Brad Anderson (executive)

Bradbury "Brad" Anderson (born 1949) is the current CEO and Vice Chairman of consumer electronics retailer Best Buy. His annual compensation for fiscal year 2007 was $5.6 million, including $1,172,995 in salary, plus $2,650,969 in incentive-plan compensation; in fiscal 2006, he earned a salary of $1,164,283 and a bonus of $2,692,250. [ Carissa Wyant and Tom Smith, [http://twincities.bizjournals.com/twincities/stories/2007/05/14/daily23.html Best Buy's CEO paid $5.6 million] , "Minneapolis / St. Paul Business Journal", May 16, 2007] In 2008, Anderson earned $49.3 million in total compensation, $1,172,995 in salary, $1,994,092 in incentive-plan compensation, stock awards of $413,635 and no option awards, and $46.08 million in value from exercising 1.05 million stock options. [Carissa Wyant, [http://twincities.bizjournals.com/twincities/stories/2008/04/14/daily7.html Best Buy CEO salary flat year-over-year] , "Minneapolis / St. Paul Business Journal", April 14, 2008.]

Raised in Sheridan, Wyoming, Anderson received an Associate of Arts from Waldorf College and a bachelor's degree from the University of Denver. In 1973, Anderson joined Sound of Music, a small chain of stereo stores that were the precursor to Best Buy, as a commissioned salesman; it took him two weeks to make his first sale. [ Matthew Boyle, [http://money.cnn.com/magazines/fortune/fortune_archive/2006/04/03/8373034/ Best Buy's giant gamble] , "Fortune Magazine", March 29, 2006.]

Best Buy-founder Richard Schulze named him vice president in 1981, where Anderson operated as the founder's right-hand man.

In the subsequent years, Schulze and Anderson turned the chain from a commission-driven store to a discount store, warehouse-style format. [ Matthew Boyle, [http://money.cnn.com/magazines/fortune/fortune_archive/2007/04/30/8405481/index.htm Q&A with Best Buy CEO Brad Anderson] , "Fortune Magazine", April 18 2007.]

In 1986, Anderson was promoted to executive vice president and was elected to Best Buy’s Board of Directors. In April 1991, he was promoted to president and chief operating officer, vice chairman in 2001, and in June 2002, he assumed the position of chief executive officer.

He serves on the Waldorf College Board of Regents.

References

* [http://bestbuymedia.tekgroup.com/article_display.cfm?article_id=208 Biography at Best Buy website]