New Non-Compete Rules For Best Buy
Best Buy has instituted new noncompete rules for lower-level executives than under previous rules, the Minneapolis Star Tribune reported this week.
The company has broadened its "noncompete umbrella" to include vice presidents and directors, in addition to the CEO and CFO. The executives in question have been offered future stock awards in exchange for agreeing to not work for a competitor for 12 months after leaving Best Buy.
The move follows two years of heavy executive turnover at the retail giant.