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Report: Best Buy pay consultant quits over retention bonuses

BY Katherine Boccaccio

Minneapolis — A Tuesday report by Bloomberg said that Best Buy compensation consultant Don Delves resigned after Best Buy awarded more than 100 managers retention bonuses that weren’t tied to performance.

Citing people familiar with the matter, Bloomberg reported that Delves – who is president of Chicago-based Delves Group and was retained by the Best Buy board — was strongly opposed to the payments. He has worked with the retailer’s compensation committee for seven years as an independent consultant.

CFO James Muehlbauer and U.S head Michael Vitelli are said to be among executives awarded extra pay as incentive to stay while Best Buy seeks a replacement for CEO Brian Dunn. Best Buy said the incentive pay is “intended to ensure leadership continuity,” according to an e-mailed statement to Bloomberg.

Muehlbauer and Vitelli, along with international president Shari Ballard and HR head Carol Surface, were in line to get lump-sum cash payments of $500,000 each. The executives also were to receive $2 million in restricted stock as part of the bonus plan. Planned bonus packages for more than 100 other Best Buy managers were structured similarly, said Bloomberg’s sources.

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New Supervalu/Yowza partnership to send coupons to smartphones

BY Staff Writer

Los Angeles — Supervalu said Tuesday it has teamed with Yowza to make the mobile couponing app available to more than 1,900 independent stores.

"We are always looking for the next best way for the independent retailers we supply to offer more value to their shoppers," said Teresa Chipps, Supervalu VP marketing and education, Independent Business.

Yowza delivers digital coupons directly to shoppers’ smartphones while they are shopping in the store.

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Mar-10-2013 03:45 pm

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M.Mirevski says:
Mar-10-2013 03:45 pm

The gravitational force on the coating itself would allow the fluid to flow through the guns' fluid nozzle thus reducing the amount of atomizing air needed for fluid flow purposes. However, properly maintaining and cleaning your tools and equipment is a crucial part of this business. our site Most people are always looking for a great way to protect themselves for a lot less. The money you save in electricity may be outweighed by a loss in efficiency or finish quality.

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Barneys promotes Daniella Vitale to COO

BY Staff Writer

New York — Barneys New York said Tuesday it has promoted Daniella Vitale to the newly created position of COO.

Vitale, since December 2010, has served as the retailer’s chief merchant and executive VP of women’s merchandising and Barneys.com.
With her promotion, Vitale will direct store operations as well as women’s merchandising and barneys.com as chief merchant of the retailer.

Prior to Barneys, Vitale was president of Gucci America.

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Apr-12-2013 08:24 am

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M.Donovan says:
Apr-12-2013 08:24 am

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