01—Abstract
Summary
Summary of the 8-K filed September 12, 2025. Cited figures are marked; the original filing is the authoritative source.
Best Buy Co., Inc. filed this Form 8-K on September 12, 2025 to report that its Board of Directors elected Meghan C.
Frank as a director, effective immediately, on September 10, 2025. Ms. Frank is currently Chief Financial Officer of lululemon athletica inc., a role she has held since 2020, and brings more than two decades of experience in retail, finance and planning, including prior roles at Ross Stores and J.Crew. She will serve on the Board's Audit Committee and Nominating, Corporate Governance and Public Policy Committee.
As a non-employee director, Ms. Frank will be compensated under Best Buy's standard Board compensation policies, as described in the company's 2025 Proxy Statement filed May 1, 2025. The filing states there are no arrangements or understandings under which she was appointed, and no related-party transactions reportable under Item 404(a) of Regulation S-K. She is expected to stand for election at the 2026 Regular Meeting of Shareholders.
The appointment was announced in a news release dated September 12, 2025, furnished as Exhibit 99.1. CEO Corie Barry said Ms. Frank's leadership across finance, merchandise planning and retail will be a key addition to the Board as Best Buy continues to evolve how it serves customers and grows its business. The filing contains no financial results or guidance.
02—Key points
Key Highlights
- Meghan C. Frank, CFO of lululemon athletica inc. since November 2020, was elected to Best Buy's Board of Directors effective immediately on September 10, 2025.
- Ms. Frank will serve on the Audit Committee and the Nominating, Corporate Governance and Public Policy Committee.
- She brings more than two decades of experience in retail, finance and planning, including prior roles at Ross Stores and J.Crew.
- Her compensation follows Best Buy's standard non-employee director compensation policies, as disclosed in the 2025 Proxy Statement filed May 1, 2025.
- The filing states there are no arrangements or understandings tied to her appointment and no reportable related-party transactions under Item 404(a).
- She is expected to stand for election at the 2026 Regular Meeting of Shareholders.
- The appointment was announced in a September 12, 2025 news release furnished as Exhibit 99.1; the filing contains no financial results or guidance.
03—Questions
Frequently Asked Questions
Who was appointed to Best Buy's Board of Directors?
The Board elected Meghan C. Frank as a director on September 10, 2025, effective immediately. She is currently Chief Financial Officer of lululemon athletica inc.
What Board committees will Ms. Frank serve on?
She will be appointed to the Audit Committee and the Nominating, Corporate Governance and Public Policy Committee.
How will Ms. Frank be compensated?
She will receive compensation under Best Buy's standard Board compensation policies and practices, whose components were disclosed in the 2025 Proxy Statement filed with the SEC on May 1, 2025.
Does the filing disclose any related-party transactions or special arrangements?
No. The filing states there are no arrangements or understandings between Ms. Frank and any other person under which she was appointed, and no transactions or relationships with Best Buy reportable under Item 404(a) of Regulation S-K.
When will Ms. Frank next stand for election?
She is expected to stand for election to the Board at the 2026 Regular Meeting of Shareholders.
04—Continue