Best Buy Names Tyabji Chairman

The board of directors of Best Buy

today announced the appointment of Hatim A. Tyabji as chairman of the Company, effective immediately. Mr. Tyabji, currently Chairman of the Audit Committee, has served as a director since 1998. This change reflects an acceleration of the timing of the planned leadership transition. Last month, the board announced that Mr. Tyabji would succeed Mr. Schulze as Chairman and Mr. Schulze would assume the honorary position of Founder and Chairman Emeritus at the annual meeting on June 21, 2012. Mr. Schulze was still expected to serve out the remainder of his term as director through June 2013.