Best Buy Co., Inc. announced that Jason Bonfig, the company’s chief customer, product and fulfillment officer, will become the retailer’s next chief executive officer effective October 31, 2026. Corie Barry, who has served as CEO since 2019, will remain a strategic advisor for six months after stepping down and will join the board of directors effective November 1, 2026.
Bonfig has been with Best Buy since 1999 and has overseen merchandising, e‑commerce, marketing, supply chain, Best Buy Canada and the company’s retail media network. He led the launch of the U.S. online marketplace and the scaling of Best Buy Ads, both central to the company’s platform strategy. His cross‑functional experience is expected to support the retailer’s shift toward high‑margin, capital‑light revenue streams.
Barry’s seven‑year tenure has seen Best Buy navigate the COVID‑19 pandemic, high inflation and tariff‑related supply‑chain pressures. She guided the company through a period of weak consumer demand and stagnant sales, and her leadership has been credited with stabilizing the business, though the stock has underperformed the market during her tenure.
The transition comes amid ongoing headwinds, including weak consumer demand, tariff‑related supply‑chain pressures and stagnant sales. The board’s decision is intended to accelerate the business with urgency and innovative ideas, and to create meaningful growth by leveraging Bonfig’s expertise in e‑commerce, fulfillment and advertising. The company’s strategy now focuses on high‑margin, capital‑light revenue streams such as its online marketplace and retail media network, positioning it for the AI age.
Investors reacted cautiously, citing uncertainty around the transition amid the company’s current challenges. Analysts noted that Bonfig’s appointment signals a renewed focus on growth and innovation, while also highlighting the need to navigate the prevailing economic headwinds.
"As a Board, we are confident that Jason is the right leader to accelerate the business, with urgency and innovative ideas, and create meaningful growth for the company and its shareholders." – David Kenny, Chair of the Best Buy Board of Directors
"At the same time, this opportunity is only possible because of Corie's extraordinary leadership over the past seven years. She guided Best Buy with a confident and steady hand and an unrelenting commitment to drive value for our employees, customers, partners and shareholders through some of the most tumultuous and uncertain times we have ever seen." – David Kenny, Chair of the Best Buy Board of Directors
"I am deeply honored to take on this role. I look forward to working closely with our incredible teams as we lean on our values, culture and strategic advantages to grow our business and create exciting new opportunities for our company." – Jason Bonfig
"I am grateful for the support of the Board and want to express my admiration and appreciation for Corie, who has had a meaningful impact on me as a leader and helped create the strong, resilient company we are today." – Jason Bonfig
"I am so proud of what Best Buy has accomplished for our employees, customers and shareholders, and the opportunities we've had to genuinely make people’s lives better." – Corie Barry
"I've worked closely with Jason for many years and can confidently say he's the right person, with the right vision, to accelerate the company's strategy and take Best Buy into the future." – Corie Barry
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