Best Buy

Richfield, Minnesota
Retailing

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Best Buy scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Best Buy increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Best Buy forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Best Buy is a Bronze sponsor of the HRC, a corporate partner of the NGLCC, and uses its reputation and funds to support LGBTQ causes and organizations. Best Buy's CEO is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional shareholder obligations. The company opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. Best Buy partnered with McKinsey & Company on a Management Training Program that is not open to white applicants. Best Buy is a Ceres Network Member, committed to net zero carbon emissions by 2040. For these reasons, Best Buy receives a High Risk rating.

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Board Bias

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CEO of Best Buy

Corie S. Barry

Corie S. Barry

Summary:

Headquartered in Richfield, Minnesota, Best Buy is a member of the Fortune 250 operating in the Retailing industry. Corie S. Barry and J. Patrick Doyle serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $85,425 to Republican causes and $137,535 to Democratic causes. Under their tenure, Best Buy currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:

$85,425

$137,535

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
6/12/24GovernanceJohn CheveddenShareholder Opportunity to Vote on Excessive Golden ParachutesAgainstN/A
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