Best Buy CEO Takes 60% Pay Cut; Employees Show Anderson Can Improve

Best Buy CEO Takes 60% Pay Cut; Employees Show Anderson Can Improve

The Associated Press reported Wednesday that current Best Buy CEO Brad Anderson saw a 60% paycut in 2009 compared to the previous year, which nets out at a still impressive $1.3 million.  The decrease in earnings for Anderson, and for other top executives, is due to a lower performance bonus this year.  The base salary Anderson received of $1.2 million is however a 6% increase from 2008. The additional $100k comes from benefits provided by Best Buy.

So is Anderson’s lower bonus this year fair? According to employees, Anderson has a 62% approval rating which underscores that there is room for improvement within the leadership of the company. For those 38% of employees who disapprove of the job Anderson is doing, lucky for them Anderson will be retiring from Best Buy this coming June and will be replaced by current COO Brad Dunn. 

Glassdoor Report: Best Buy

 

Company Rating

CEO Name

CEO Rating

Best Buy

3.5

Brad Anderson

62%

Can Dunn exceed the approval rating of his predecessor and potentially boost the company satisfaction score up from a satisfied rating of 3.5?  Here is some feedback from Best Buy employees to Senior Management that will could make for happier employees and in turn help top executives surmount their performance goals and once again earn significant bonuses:

The people that often work the hardest will usually be the ones to tell you honestly how they feel. While this may sound negative you should listen because it is most often the truth. The truth makes you better. If you promote everyone that just agrees with you then you get a lot of people that can’t think for themselves.- Supervisor, Houston, TX

Hire some more people from outside the retail box. Get some new thinking in there.- Manager, Richfield, MN

Continue to stay ahead of the curve, but take care of the store leaders who deliver results!- General Manager, Orlando, FL

We’ll be sure to keep a close eye on Dunn as he takes office this June. It will interesting to see if he rises to the occasion or finds his way to our CEO Watch List.

Categories: In the News Salaries

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