Best Buy to Appoint Jason Bonfig as New CEO
Jason Bonfig will succeed current CEO Corie Barry on October 31, 2026, as the company enters a new growth phase.
Updated on Oct. 28, 2026 in People
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Best Buy will transition to new leadership on October 31, 2026, as Jason Bonfig replaces Corie Barry as chief executive officer. The internal promotion follows Bonfig's 25-year career at the company, where he currently oversees e-commerce and merchandising operations.
Why it matters
The leadership change marks a strategic pivot for Best Buy as the company looks to drive innovation and growth across its physical and digital retail channels. The transition comes as the firm manages current quarterly sales performance and issues forward earnings guidance.
Best Buy reported quarterly diluted earnings per share of $0.87, with adjusted earnings of $1.28 per share. The company also declared a quarterly cash dividend of $0.95 per common share.
The players
Jason Bonfig
He is the incoming chief executive officer of Best Buy who has spent 25 years with the company managing e-commerce and merchandising.
Corie Barry
She is the outgoing chief executive officer and the second longest-tenured leader in the history of Best Buy.
The details
Jason Bonfig, who has been with Best Buy since 1999, will take the helm as the second longest-tenured leader, Corie Barry, steps down. The company currently projects full-year adjusted diluted earnings per share to land between $6.15 and $6.30.
Timeline
Jason Bonfig began his employment with the company in 1999.
Corie Barry departs as chief executive officer on October 31, 2026.
Market Landscape
The leadership transition follows a period where Best Buy shares have fluctuated, currently trading 4% below the 200-day moving average but 6.7% above the 20-day moving average. This move aims to stabilize the competitive environment as the firm navigates ongoing retail sector shifts.
Shareholders and customers can expect consistency as the incoming CEO is a long-term company veteran familiar with current operations. The board remains committed to its dividend policy, confirming a cash payout of $0.95 per common share for investors.
The takeaway
Investors should monitor how the internal promotion affects the company's full-year earnings forecast of $6.15 to $6.30 per share. Consistent leadership strategies are often intended to maintain stability during retail transitions.
Further reading
For more on industry leadership trends, visit the People section.
Source note: This article includes information reported by Rolling Out.
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