Best Buy Co., Inc. announced on Wednesday, April 22, 2026, that Chief Executive Officer Corie Barry will step down from her leadership role and her seat on the board of directors effective October 31, 2026. The company’s board has appointed Jason Bonfig, currently serving as the chief customer, product, and fulfillment officer, to succeed her. This transition marks the end of Barry’s seven-year tenure as the head of the world’s largest specialty consumer electronics retailer, a period during which she led the company through the global pandemic and a significant shift toward omnichannel commerce.
Bonfig, 49, is a 27-year veteran of the company, having first joined Best Buy as an inventory analyst in 1999. Throughout his nearly three-decade career, he has held various senior leadership positions in merchandising, supply chain, and e-commerce. Most recently, Bonfig was credited with leading the successful launch and scaling of the company’s U.S. digital marketplace and the expansion of Best Buy Ads, the retailer’s retail media network. He is expected to join the board of directors simultaneously with his appointment as CEO on November 1, 2026.
The leadership change comes as Best Buy navigates a period of stagnant growth. During Barry’s tenure, which began in 2019, the company’s stock price appreciated by 6.25%. This performance trailed the broader market significantly, as the S&P 500 index rose by 157% during the same period. In its most recent financial reports, the company noted that while profitability remained resilient, consumer demand for electronics has been soft, leading to a 0.8% decline in enterprise comparable sales during the holiday quarter of fiscal 2026.
In its official statement, Best Buy reiterated its financial guidance for the 2027 fiscal year. The company projects total revenue to fall between $41.2 billion and $42.1 billion, with comparable sales expected to range from a 1% decline to a 1% increase. Additionally, the company anticipates adjusted diluted earnings per share (EPS) to be between $6.30 and $6.60. Capital expenditures for the upcoming fiscal year are estimated at approximately $750 million, which includes plans to open six new domestic stores—the first such expansion in over a decade.
David Kenny, Chair of the Best Buy Board of Directors, praised Barry’s leadership through the pandemic and other market uncertainties but emphasized the need for a new phase of growth. Kenny stated that the board is confident Bonfig is the right leader to accelerate the business with urgency and innovative ideas. To facilitate the transition, Barry will remain as a strategic advisor for six months following her departure. Bonfig’s new compensation package includes an annual base salary of $1.25 million and a long-term incentive target of $10.125 million starting in fiscal 2028. Barry will receive a reduced base salary of $1 million during her advisory period.