Best Buy CEO passes up $7.5 million
Is this a trend? A few months ago, Ford CEO Bill Ford Jr. gave his first official bonus—worth about $1.5 million—to company employees for their children’s college tuition. Now comes word that Best Buy CEO Brad Anderson has turned over part of his compensation—200,000 stock options with a potential value of $7.5 million—to non-executive employees.
By giving away his options, Anderson is sending an important message to Best Buy investors and workers. "He's saying, 'The CEO is not the only one who contributes to the success of the organization,'" [said John Fossum, a professor at the University of Minnesota's Carlson School of Management]. "What people do at a variety of different levels in the organization really helps out the organization and is ultimately going to drive the company's share price," Fossum said.Click here to read more about convincing decisions.