Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On January 7, 2021, the Board of Directors (the "Board") of Best Buy Co., Inc. ("Best Buy" or the "registrant") unanimously elected Mario J. Marte as a director, effective immediately. Mr. Marte is the Chief Financial Officer of Chewy, Inc., a leading internet and direct marketing retailer focused on pet food and other pet-related products, with $4.8 billion in annual revenues in 2019. Mr. Marte brings to the Board in-depth professional experience in financial planning and analysis, treasury, strategy, risk management and commercial and operations finance through his roles at Chewy, Hilton Worldwide, American Airlines and Accenture.

Mr. Marte will be appointed to serve on a Board committee at a later date. Committee assignment(s), once determined, will be disclosed by the registrant in a Current Report on Form 8-K.

Mr. Marte will be compensated in accordance with the registrant's standard compensation policies and practices for the Board, the components of which were disclosed in the registrant's Proxy Statement for its 2020 Regular Meeting of Shareholders filed with the Securities and Exchange Commission on April 29, 2020, in the section titled "Director Compensation".

There are no transactions or relationships between the registrant and Mr. Marte that are reportable under Item 404(a) of Regulation S-K.

Mr. Marte is expected to stand for election to the registrant's Board at the 2021 Regular Meeting of Shareholders.

Item 7.01 Regulation FD Disclosure.

On January 8, 2021, Best Buy issued a news release announcing the appointment of Mr. Marte to the Board as described above under Item 5.02. A copy of the news release is furnished as Exhibit 99.1 and incorporated herein by reference.

Best Buy's Annual Report to Shareholders and its reports on Forms 10-K, 10-Q and 8-K and other publicly available information should be consulted for other important information about the registrant.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following are furnished as Exhibits to this Current Report on Form 8-K.



Exhibit No.                          Description of Exhibit
  99.1          News release issued January 8, 2021  . Any internet address
              provided in this release is for information purposes only and is not
              intended to be a hyperlink. Accordingly, no information at any
              internet address is included herein.
              Cover Page Interactive Data File (embedded within the Inline XBRL
104           document).



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