Best Buy Appoints Two New Directors; Additions of Ronald James and Mary Tolan; Increase Size of Board to 13 Members.To download high-resolution, print-ready JPEG JPEG in full Joint Photographic Experts Group Standard computer file format for storing graphic images in a compressed form for general use. JPEG images are compressed using a mathematical algorithm. images, click on the thumbnail image above. WARNING: these images are very large (800K+) Click here for caption To download high-resolution, print-ready JPEG images, click on the thumbnail image above. WARNING: these images are very large (800K+) Click here for caption Business Editors MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4631267 MINNEAPOLIS--(BUSINESS WIRE)--May 3, 2004 Best Buy Co., Inc. (NYSE NYSE See: New York Stock Exchange :BBY BBY Best Buy (stock symbol) BBY Before Battle of Yavin (Star Wars) BBY BeBeyond (Chinese online community) ) today announced the appointments of Ronald James and Mary Tolan to its board of directors. James, president and chief executive officer of the Center for Ethical Business Cultures, and Tolan, chief executive officer of Accretive Health, were selected to fill two new positions, increasing the size of Best Buy's board to 13 members. Tolan and James are both Class 2 directors. "We are delighted to have these strong and thoughtful leaders join the Best Buy board," said Richard Schulze
Richard Schulze was a Waffen-SS officer during World War II who obtained the rank of SS-Obersturmbannführer. , Best Buy's founder and chairman of the board. "Transforming Best Buy from a product-centric company to a customer-centric company demands that we cultivate deeper and more diverse board resources. Ron and Mary's combined experience and expertise enhance our board's depth and strength and help us better meet the dynamic growth opportunities of our company." Ronald James James currently serves as the president and chief executive officer of the Center for Ethical Business Cultures, a non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. located in Minneapolis. Prior to joining the Center, he served as president and chief executive officer of the Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. Group, a division of Ceridian Corporation. Before that, he was Minnesota's top executive for US West Communications, Inc. (now Qwest). James also serves on the boards of Bremer Financial Corporation and Tamarack tamarack: see larch. Funds (an Investment Fund of RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Dain Rauscher, Inc.). In addition, he serves on the boards of Allina Hospitals and Clinics, the Greater Twin Cities United Way, and the Guthrie Theater The Guthrie Theater is a professional theater company in Minneapolis, Minnesota. It was the result of Sir Tyrone Guthrie's desire for a new kind of theater that would provide an atmosphere which would encourage the production of great works of literature and cultivate actors' . A graduate of Doane College Alumni
"Ron James brings a broad base of experience, understanding and insight to our board," said Schulze. "His perspectives will be critical as we implement customer centricity and other innovative initiatives. Ron will help us be mindful of the need to inspire the next generation of leaders at Best Buy while continuing to build an ethical and profitable business culture." Mary Tolan Tolan is the chief executive officer of Chicago-based Accretive Health, a patient access and revenue cycle service company for health care providers. Prior to assuming her current role, Tolan spent 22 years with Accenture. She most recently served as Accenture's corporate development officer, where she focused on new business opportunities for the global management consulting, technology services and outsourcing company. Before that, she was the group chief executive of Accenture's resources operating group. Tolan also acted as the chief strategist for Accenture and was a key designer of the company's reinvention agenda and led its global retail operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon . Tolan serves on the council for the Graduate School of Business at the University of Chicago and on the board of the Lyric Opera. She received a bachelor of business administration “BBA” redirects here. For other uses, see BBA (disambiguation). The Bachelor of Business Administration (BBA) is a bachelor's degree in business studies. degree from Loyola University and a master of business administration degree from the University of Chicago. Tolan was named to Crain's "Top 40 Under 40" list and Consulting magazine's "The Top 25 Consultants 2000 - The Profession's Most Influential People" list. "Mary's extensive business background, strategic thinking and proven operating skills will be valued as we continue to transform Best Buy," said Schulze. "We believe she will make multiple contributions as the board guides our enterprise through its evolution to a customer-centric organization." The company's shareholders will be asked to ratify the appointments of James and Tolan to the Best Buy board of directors on June 24, 2004, at the company's annual meeting of shareholders in Minneapolis. About Best Buy Co., Inc. Minneapolis-based Best Buy Co., Inc. is North America's leading specialty retailer of consumer electronics, home-office products, entertainment software and appliances. The company's subsidiaries operate retail stores and/or web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com), and Magnolia Audio Video Magnolia Audio Video is a specialty consumer electronics retailer in the United States. It currently operates 13 standalone stores throughout Washington, Oregon, and California. (Magnoliaav.com). The company's subsidiaries reach consumers through more than 750 retail stores in the United States and Canada. MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4631267 |
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