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Board Launches CEO Search Process

MINNEAPOLIS--(BUSINESS WIRE)--Apr. 12, 2012-- The Best Buy Board of Directors is creating a committee to run a global search process to identify a Chief Executive Officer who will bring strong leadership to the company. The committee, headed by Kathy J. Higgins Victor in her role as Chairwoman of the Nominating Committee, will oversee a thorough search process to identify internal and external candidates, including current interim CEO Mike Mikan.

Six search firms will be interviewed and the final search firm partner will be selected in the next few weeks. The search is expected to take six to nine months to complete.

The board will run an open and transparent process, will publicly announce the committee members and the selected search firm, and will post the job description on the company website, as it does with director searches.

About Best Buy Co., Inc.

Best Buy Co., Inc. (NYSE: BBY) is a leading multi-channel global retailer and developer of technology products and services. Every day our employees - 167,000 strong - are committed to helping deliver the technology solutions that enable easy access to people, knowledge, ideas and fun. We are keenly aware of our role and impact on the world, and we are committed to developing and implementing business strategies that bring sustainable technology solutions to our consumers and communities. For information about Best Buy, visit www.bby.com and to shop at Best Buy, visit www.bestbuy.com.

Source: Best Buy Co., Inc.

Best Buy Co., Inc.
Media Contacts:
Greg Hitt, 202-669-1216
Greg.Hitt@hkstrategies.com
or
Investor Contacts:
Bill Seymour, 612-291-6122
bill.seymour@bestbuy.com