Best Buy Appoints Mario J. Marte to Board of Directors

Rhea-AI Summary

Best Buy (NYSE:BBY) announced the appointment of Mario J. Marte to its Board of Directors, effective immediately. Marte, currently the Chief Financial Officer of Chewy, Inc., brings over 20 years of experience in finance, with expertise in financial planning, risk management, and strategy. He played a significant role in Chewy's successful IPO in 2019 and has held senior positions at Hilton Worldwide and American Airlines. CEO Corie Barry highlighted Marte's diverse and strategic thinking as a valuable addition to Best Buy as it pursues its 2025 goals.

Positive

• Mario Marte's extensive finance experience and strategic thinking are expected to provide fresh perspectives to Best Buy's Board.
• Marte's background in e-commerce, especially with Chewy, aligns well with Best Buy's mission and goals.

Negative

• None.

Best Buy Co, Inc. (NYSE:BBY) today announced that Mario J. Marte, a leading e-commerce executive, has been appointed to its Board of Directors, effective immediately.

Photo: Best Buy

Marte is the Chief Financial Officer of Chewy, Inc., the leading online pet retailer whose mission is to be the most trusted and convenient online destination for pet parents (and partners) everywhere. Partnering with more than 2,000 brands and employing more than 18,000 team members, Chewy was one of the standout IPOs in 2019, an effort in which Marte played a key role.

Joining Chewy in April 2015 as Vice President of Finance and Treasury, Marte brought with him nearly two decades of business experience, including senior finance roles at Hilton Worldwide and finance and management consulting positions at American Airlines and Accenture. His in-depth professional experience has made him an expert in financial planning and analysis, treasury, strategy, risk management, and commercial and operations finance.

“Among the e-commerce retailers those of us at Best Buy admire the most, Chewy is high on the list. They have achieved a market-leading position through a clearly stated mission and a clear determination to innovate and serve their customers — and their pets — with excellence,” said Corie Barry, Best Buy’s Chief Executive Officer. “Mario has played a key role in this success story and brings to our board not just 20 years of finance experience but the kind of diverse, strategic thinking we are thrilled to have as we continue our progress toward our 2025 goals.”

“Best Buy’s mission as a company — to enrich lives — is strikingly similar to how we operate at Chewy, with both companies obsessed with serving our customers better than anyone in our respective categories,” Marte said. “Having watched Best Buy’s performance over the years and long admired its vision and executional acumen, I am honored to join the Board and to build upon the momentum generated by this impressive team.”

Marte holds a bachelor’s degree in computer engineering from the University of South Florida, and an MBA from Duke University’s Fuqua School of Business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210108005499/en/

FAQ

Who is Mario J. Marte and what is his role at Best Buy?

Mario J. Marte is the newly appointed member of Best Buy's Board of Directors. He is the Chief Financial Officer of Chewy, Inc., and brings over 20 years of finance experience.

What previous experience does Mario J. Marte bring to Best Buy?

Marte has held senior finance roles at Chewy, Hilton Worldwide, and American Airlines, contributing extensive expertise in financial planning and strategy.

How might Mario Marte's appointment impact Best Buy?

His experience in e-commerce and finance could provide valuable insights and guidance as Best Buy aims to achieve its 2025 goals.

When was Mario J. Marte appointed to the Board of Directors at Best Buy?

Mario J. Marte's appointment to Best Buy's Board of Directors was announced to be effective immediately.