Best Buy taps Jason Bonfig as CEO

Best Buy said on April 22 that Jason Bonfig will become chief executive on October 31, replacing Corie Barry at the end of the company’s third quarter. (investors.bestbuy.com) Barry will step down as chief executive and leave the board on October 31, and Bonfig will join the board the same day. Barry will stay on as a strategic adviser for six months after the handoff. (investors.bestbuy.com) Best Buy said Bonfig is the sixth chief executive in its 60-year history. The board said it considered both internal and external candidates before choosing him. (investors.bestbuy.com) Bonfig currently oversees merchandising, ecommerce, marketing, supply chain, Best Buy Canada and Best Buy Ads, the company’s retail media business. Best Buy said he most recently led the creation of its U.S. online Marketplace. (investors.bestbuy.com) He joined Best Buy in 1999 as an inventory analyst, according to the company. Barry also joined in 1999 and has been chief executive since June 2019. (investors.bestbuy.com 1) (investors.bestbuy.com 2) (investors.bestbuy.com 3) The change comes after a year in which Best Buy reported $41.691 billion in revenue, up slightly from $41.528 billion a year earlier. Enterprise comparable sales rose 0.5% for fiscal 2026 after falling 2.3% in fiscal 2025. (investors.bestbuy.com) The latest quarter was softer. Best Buy said fourth-quarter comparable sales fell 0.8%, and domestic online comparable sales fell 2.3% in the holiday period ended January 31, 2026. (investors.bestbuy.com) For fiscal 2027, Best Buy forecast revenue of $41.2 billion to $42.1 billion and comparable sales between down 1.0% and up 1.0%. Chief financial officer Matt Bilunas said the company still expects a mixed macro environment. (investors.bestbuy.com) Best Buy said it operated more than 1,000 stores in North America and employed about 82,000 people in fiscal 2026. That leaves Bonfig taking over a large store fleet while also running businesses the company has been using to widen its online assortment and ad revenue. (investors.bestbuy.com 1) (investors.bestbuy.com 2) The handoff is set for October 31, giving Barry and Bonfig a six-month transition window before Best Buy enters the 2026 holiday season under a new chief executive. (investors.bestbuy.com)