<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): SEPTEMBER 21, 1999
BEST BUY CO., INC.
(Exact name of registrant as specified in its charter)
MINNESOTA
(State or other jurisdiction of incorporation)
1-9595 41-0907483
(Commission File Number) (IRS Employer Identification Number)
7075 FLYING CLOUD DRIVE 55344
EDEN PRAIRIE, MINNESOTA (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: 612/947-2000
NOT APPLICABLE
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On September 17, 1999, the Board of Directors of Best Buy Co., Inc. approved the
appointment of Robert T. Blanchard as a director on its Board. Mr. Blanchard is
currently president of the North American Beauty Care Sector of The Procter &
Gamble Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
c) Exhibits
The following is filed as an Exhibit to this Report.
Exhibit No. Description of Exhibit
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99 Press Release issued September 21, 1999
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BEST BUY CO., INC.
(Registrant)
Date: September 21, 1999 By: /s/ Allen U. Lenzmeier
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Name: Allen U. Lenzmeier
Title: Executive Vice President and
Chief Financial Officer
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EXHIBIT 99
BEST BUY APPOINTS NEW DIRECTOR TO BOARD
APPOINTMENT BRINGS BOARD TOTAL TO NINE
MINNEAPOLIS, SEPTEMBER 21, 1999 - BEST BUY CO., Inc. today announced that
effective September 17, 1999, a new member was added to its Board of Directors,
returning the number of directors to nine after the retirement of Culver Davis
Jr.
Robert T. Blanchard, 55, brings more than 30 years of experience in marketing
and strategic planning to Best Buy's board. He began his career at Procter &
Gamble in 1967 in brand management. Currently, he is the President of the North
American Beauty Care Sector of P&G. Blanchard will retire in November and devote
his time to his new consulting company, Strategic and Marketing Services, where
he serves as President.
"Blanchard's extensive strategic and branding experience will help expand the
Best Buy brand to new levels," said Best Buy Founder, Chairman & CEO Richard M.
Schulze. "Best Buy employees, customers and shareholders will benefit from his
extensive industry experience and strategic guidance and we look forward to his
future contributions."
Blanchard serves as a board member for Bandag Corporation and Chairman of the
Board of Cincinnati Classical Public Radio, Inc. In addition, he serves on the
advisory boards for Xavier University's College of Business and Center for
International Business.
He earned his BA in History from Princeton University. Following college, he
served as a sergeant in the US Marine Corps Reserve for six years.
Minneapolis-based Best Buy Co., Inc. (NYSE: BBY) is the nation's largest volume
specialty retailer of consumer electronics, personal computers, entertainment
software and appliances through 335 stores in 36 states, and offers CDs and DVD
movies online at www.bestbuy.com.
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