Best Buy is preparing for a leadership transition, with CEO Corie Barry set to step down from her role and the board on Oct. 31, according to a company announcement. She will remain with the business in a strategic advisory capacity for six months following her departure.
The board has appointed Jason Bonfig, currently chief customer, product and fulfillment officer, as her successor. He will assume the CEO role and join the board on the same date. A replacement for his current position has yet to be named.
Bonfig is a long-standing Best Buy executive, having joined the company in 1999 as an inventory analyst. In his current role, he oversees a broad remit including merchandising, e-commerce, marketing, supply chain, Best Buy Canada and the company’s retail media and marketplace businesses.
His proximity to key growth initiatives, including the U.S. digital marketplace launched last year, has been viewed positively by some analysts, who see continuity in strategy despite the leadership change.
Barry’s exit comes as Best Buy’s financial performance has stabilised but struggled to regain consistent momentum. After strong growth during the pandemic years, both revenue and net earnings declined between fiscal 2023 and 2025 before showing modest recovery in the most recent year.
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Barry, who became CEO in 2019 after serving as chief financial and strategic transformation officer, is widely credited with steering the company through the volatility of the COVID-19 period and strengthening its position in the consumer electronics market.
“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 Best Buy’s board.
Analysts suggest the next phase will require more aggressive strategic moves as the retailer looks to stay relevant in an increasingly competitive and fast-evolving sector.
Others have shared an optimistic view of the appointment, noting Barry’s focus on developing profit-driving areas such as retail media and marketplace, and highlighting Bonfig’s direct involvement in those initiatives.
The leadership change signals a pivotal moment for Best Buy, as it looks to transition from pandemic-era gains into a new phase of growth driven by digital capabilities, services and alternative revenue streams.
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