Brad Anderson (executive)
Encyclopedia
Bradbury "Brad" Anderson (born 1949) is the former CEO
and Vice Chairman of consumer electronics retailer Best Buy
. He retired on 6/22/11 and was replaced by Brian J. Dunn
. In fiscal 2006, he earned a salary of $1,164,283 and a bonus of $2,692,250. 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 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.
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.
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.
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.
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
and Vice Chairman of consumer electronics retailer Best Buy
Best Buy
Best Buy Co., Inc. is an American specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada & China. The company's subsidiaries include Geek Squad, CinemaNow, Magnolia Audio Video, Pacific Sales, and, in Canada operates...
. He retired on 6/22/11 and was replaced by Brian J. Dunn
Brian J. Dunn
Brian Dunn is the Chief Executive Officer of Best Buy. He replaced Brad Anderson on June 24, 2009.Dunn started with Best Buy in 1985 as a sales associate when the company operated just a dozen stores....
. In fiscal 2006, he earned a salary of $1,164,283 and a bonus of $2,692,250. 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 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.
Raised in Sheridan, Wyoming
Sheridan, Wyoming
Sheridan is a city in Sheridan County, Wyoming, United States. The 2010 census put the population at 17,444 and a Micropolitan Statistical Area of 29,116...
, Anderson received an Associate of Arts from Waldorf College
Waldorf College
Waldorf College, located in Forest City, Iowa, is a four-year liberal arts, for-profit college.Founded in 1903, the college was affiliated with the Evangelical Lutheran Church in America until 2009, when, due to financial problems, the college was sold to for-profit Mayes Education, owner of...
and a bachelor's degree
Bachelor's degree
A bachelor's degree is usually an academic degree awarded for an undergraduate course or major that generally lasts for three or four years, but can range anywhere from two to six years depending on the region of the world...
from the University of Denver
University of Denver
The University of Denver is currently ranked 82nd among all public and private "National Universities" by U.S. News & World Report in the 2012 rankings....
. 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.
Best Buy-founder Richard Schulze
Richard M. Schulze
Dick Schulze is the founder and chairman of Best Buy. He currently lives in Bonita Springs, Florida.He was born and raised in Saint Paul, Minnesota where he graduated from Central High School. He subsequently spent time in the U.S. Air Force with the Minnesota Air National Guard. He has an...
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.
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
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
, vice chairman in 2001, and in June 2002, he assumed the position of chief executive officer.
He serves on the Waldorf College
Waldorf College
Waldorf College, located in Forest City, Iowa, is a four-year liberal arts, for-profit college.Founded in 1903, the college was affiliated with the Evangelical Lutheran Church in America until 2009, when, due to financial problems, the college was sold to for-profit Mayes Education, owner of...
Board of Regents.