Best Buy

Richfield, Minnesota
Retailing

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Best Buy scored a 100 out of 100 on the 2023-2024 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 provides a benefits package for employees which covers transgender medical procedures for covered employees and dependents, including children. 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 partnered with McKinsey & Company on a Management Training Program that is not open to white applicants. The company is a Ceres Network Member, committed to net zero carbon emissions by 2040. Best Buy's CEO is a signatory of the Business Roundtable's 2019 Statement on the Purpose of a 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’s CEO, Corie Barry, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. The company was a member of the Global Alliance for Responsible Media, which demonetized and suppressed content that it deemed to spread “hate speech” or “misinformation”, discuss “debated social issues in a negative or partisan context”, or “vilif[y]” individuals based on sexual orientation and gender identity. These arbitrary guidelines were used to censor mainstream perspectives online. Best Buy is a Bronze sponsor of the HRC and a corporate partner of the NGLCC. 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 ParachutesAgainst6.26%
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