Text size

Best Buy's (BBY) new CEO Hubert Joly will receive a pay package worth as much as $32 million over three years.

As the Wall Street Journalreports, the money is 2½ times more than the retailer earned in its most recent quarter and much of it is intended to compensate for money Joly would have made at the helm of Carlson Cos. (He resigned as CEO on Sunday to take the Best Buy offer.)