Best Buy Announces Chief Executive Officer Succession Plans

Jason Bonfig to succeed Corie Barry as Chief Executive Officer, following her planned departure at the end of Q3 MINNEAPOLIS--(BUSINESS WIRE)-- Best Buy Co., Inc. (NYSE: BBY) today announced that its Board of Directors has selected Jason Bonfig, the company’s Chief Customer, Product and Fulfillment Officer, to succeed Corie Barry as the next Chief Executive Officer at Best Buy. Barry will step down from her roles as CEO and member of the Board at the end of Q3 on Oct. 31 of this year. Bonfig will also join the Board at that time. Credit: Best Buy Bonfig’s appointment as the sixth CEO in the company’s 60-year history is the result of an extensive process conducted by the Board that considered internal and external candidates. Barry and Bonfig will continue to work closely over the coming months to ensure a smooth transition. Barry will also remain as a strategic advisor for six months after she steps down as CEO. “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,” said 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.” “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,” Bonfig said. “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.” Bonfig currently oversees the core elements of Best Buy’s business, including merchandising, ecommerce, marketing, supply chain, Best Buy Canada and Best Buy Ads, the company’s retail media network. Most recently, he led the creation of the company’s online Marketplace in the U.S. and the scaling of its Best Buy Ads business, key components of Best Buy’s growth strategy. Bonfig’s significant influence within the consumer electronics industry, paired with his deep knowledge and understanding of Best Buy’s customers, seamlessly align with the company’s strategy. Since joining the company as an inventory analyst in 1999, he has developed invaluable relationships with the world’s most prominent technology companies, and over the years has greatly influenced the products and features that customers love and rely on today. Barry, the second-longest tenured CEO in Best Buy’s history, skillfully guided the company through many external challenges by managing the business with unmatched expertise, creating excellent customer experiences, and building a culture of belonging with record-high engagement scores among Best Buy’s more than 80,000 employees. “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,” Barry said. “I’ve