Best Buy's interim CEO snags big pay package

  • Article by: THOMAS LEE , Star Tribune
  • Updated: May 22, 2012 - 11:12 AM

Corporate governance experts say G. Mike Mikan's pay is overly generous, given his lack of retail experience.

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cuso26May. 21, 12 9:20 PM

Remember folks, these guys HAVE to get paid more or they will get snatched up by the competition! (that's sarcasm in case you didn't realize).

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adri0801May. 21, 12 9:23 PM

Glad I never bought any Best Buy stock..

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abovethelies2May. 21, 12 9:24 PM

I've always wished I could get a temp/part-time job that paid 3.3 million. I wonder if Walmart has any openings......

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falcon1679May. 21, 12 9:35 PM

So he doesn't even walk in the door yet and he's raking it in? Another right wing myth about CEO's EARNING they're pay gets busted.

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siouxfansMay. 21, 12 9:37 PM

Does anyone really wonder why this company is circling the drain?

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davestrib00May. 21, 12 9:38 PM

I'm sure Mikan is qualified. He knows how to turn a TV on and cash large checks. Oh, and he is a pal of Richard Schultz. If they didn't pay Mikan the $3M he may be off doing...what the heck was he doing?

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xorcistMay. 21, 12 9:41 PM

Just more proof that the Board of Best Buy is as feckless as we always knew.

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vegas2112May. 21, 12 9:44 PM

Nice that Best Buy picked from the ranks of the unemployed -- but considering the precarious financial condition they are in, could they be more judicious with company funds? The Board of Directors is so out of touch with reality, they should be summarily replaced.

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flossy2012May. 21, 12 9:50 PM

"That includes an annual base salary of $1.1 million" Big LIBERAL entertainers like Bruce Springsteen, Tom Petty, Barbra Streisand, and U2 make MORE than that just in one night for putting on a 2 or 3 hour concert. But you won't see the liberal media writing articles about those "big pay packages", will you? Nope. Only the guy who works 60 hours a week for much less than a liberal entertainer earns in 2 nights is criticized by the media.

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susanwilhhMay. 21, 12 9:52 PM

I have been a loyal Best Buy customer for many years, however I will now boycott them based only on this headline (I didn't bother to read the details). All I need to know is that they are throwing their money away on a ridiculously highly paid CEO - who apparently isn't even all that qualified. You get no more from me, I won't support this stuffed suit. We all need to stand against overpaid CEO's.

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