Best Buy’s Joly Received $20 Million Signing Bonus

Best Buy is paying incoming CEO Hubert Joly a signing bonus that amounts to $20 million, on top of a $1.175 million base salary and an annual bonus of up to 400 percent of his salary. That’s according to disclosure forms filed by the company and obtained by the Minneapolis Star Tribune.

Joly was announced as the embattled retail giant’s new chief executive on Monday and will take over next month.

The $20 million, the paper said, will consist of a $3.5 million lump sum, $6 million restricted stock award, a $3.75 million stock options award, and $3.75 million in performance share units.

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Comments
  • Casey Crane

    Wow….A $20 million signing bonus would make make anyone "Jolly"!

  • don bendell

    Always amazed at what CEO’s make on Wall Street. Such a waste! I could seriously put together a team of industry players for a million each that could bring that company back to profit for 20 million!!!! It would take 1.3 years to do so.

  • shamalamadingdong

    Another reason to say "bye bye Best Buy"!

  • jeffoheir

    Wow! For that type of salary, Joly better have a great turnaround plan.

  • PGP

    I knew that Big Boxes get deep discounts from Industry but that’s amazing! What price failure. :-)