Best Buy Succession Plan

Best Buy said Jason Bonfig will become chief executive on Oct. 31, replacing Corie Barry after a board-run succession process. (corporate.bestbuy.com) Barry will step down as chief executive and leave Best Buy’s board at the end of the third quarter on Oct. 31, 2026, and Bonfig will join the board the same day. Best Buy disclosed the plan on April 22 in both a company release and a filing with the Securities and Exchange Commission. (corporate.bestbuy.com) (sec.gov) Bonfig now serves as senior executive vice president and chief customer, product and fulfillment officer. Best Buy said he oversees merchandising, e-commerce, supply chain and marketing, including Best Buy Ads and the Canada business. (corporate.bestbuy.com) The company framed the move as continuity. Best Buy said the board considered internal and external candidates, and that Barry and Bonfig will work together for the next six months on the handoff. (sec.gov) The timing lands in the middle of a slow-growth stretch for the electronics chain. Best Buy reported on March 3 that fourth-quarter comparable sales fell 0.8% and forecast fiscal 2027 adjusted earnings per share of $6.30 to $6.60. (investors.bestbuy.com) Barry has been chief executive since 2019 and said in Best Buy’s leadership profile that she spent 27 years at the company before deciding it was time to transition leadership. Best Buy said she led the retailer through the pandemic-era demand surge and later through inflation and weaker electronics spending. (corporate.bestbuy.com) (cnbc.com) Bonfig is also a longtime insider. CNBC reported he joined Best Buy in 1999 as an inventory analyst, and the company said he will become the sixth chief executive in Best Buy’s 60-year history. (cnbc.com) (sec.gov) Best Buy’s latest annual profile says the retailer has more than 80,000 employees in North America and nearly $42 billion in annual revenue. The next six months will determine whether an internal operator can turn that scale into faster sales growth by the time the transition closes in October. (corporate.bestbuy.com)