To elect eleven directors to serve until the Annual We look forward to greeting you at this year's virtual Annual Meeting. The Board and management team remain focused on creating value for all stakeholders. We will continue to support our associate base through actions to achieve the Company's diversity, equity, and inclusion(DE&I) goals, while providing competitive total rewards, learning and development, and upskilling opportunities.
We appreciate and recognize the tireless dedication of our exceptional associates who, against an extraordinary macroeconomicenvironment,haveshowntremendouscommitmenttoourstrategyanddedicationtoservingourcustomers. The Board remains highly committed to executive incentive payouts that are aligned with achieving financial targets, creating long-term shareholder value, and informed by shareholder feedback. While the vast majority of direct pay for the CEO and other Named Executive Officers (NEO) remained tied to targeted performance metrics in 2021, we increased its proportion within our long-term compensation plans. We also restructured the executive compensation program to reflect an operating environment beyond 2020, when we built a new executive team and supported operations during the onset of the COVID-19 pandemic. Over the past year, we made changes to board composition and added new directors with the skills and experience necessary to provide oversight of strategy and business performance. Further, after successfully executing improvements to our buybuy BABY business, we are exploring strategic alternatives to unlock even greater value from the banner. In the core business, we introduced eight new, margin-supportive Owned Brands in key destination categories, more than doubling penetration versus fiscal 2020. The Company completed approximately $600 million in share repurchases in fiscal 2021 and completed the majority of its $1 billion share repurchase program ahead of our 2023 target. In 2021, we continued to focus on returning capital to our shareholders, including significantly increasing our three-year share repurchase program. In terms of creating value for shareholders, our focus in 2020 was delivering approximately $600 million in proceeds from asset sales.
These improvements are intended to provide the Company with foundational enablers and a platform that can support challenging environments over the long term. We also began replacing outdated technology systems and continued to build on and enhance omni-channel capabilities that were rapidly deployed at the outset of the COVID pandemic. In this first year of our multi-year turnaround strategy, we increased investments in structurally critical parts of our business - including supply chain infrastructure and technology, ecommerce and customer experience solutions, and store remodels. The past year was incredibly important for Bed Bath and Beyond's future. Message from the president and chief executive officer, and the chair of the board of directors
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