Best Buy names Jason Bonfig as new CEO, hoping for sales boost
Best Buy announced its new CEO will be Jason Bonfig, who has worked as the company’s chief customer, product and fulfillment officer, to replace Corie Barry.
Barry, 51, will step down as CEO and board member on Oct. 31, when Bonfig, 49, will join the board.
Bonfig joined the company in 1999 as an inventory analyst and worked his way through the company ranks. He will be the sixth CEO of Best Buy.
Best Buy is hoping to boost its sales with mobile phones and laptops. Its sales have lagged in recent years, which the company attributes to a slowed housing market, price-conscious shoppers and slower tech innovation, CNBC reported.
In early March, Best Buy said it expects revenue to be between $41.2 billion and $42.1 billion, CNBC reported. Last year’s revenue was $41.69 billion. The projected adjusted earnings per share are $6.30 to $6.60 compared to $6.43 the previous fiscal year.
Board Chair David Kenny said in a statement that Bonfig is “the right leader to accelerate the business, with urgency and innovative ideas and create meaningful growth for the company and its shareholders.”
Kenny also praised Barry’s work.
“At the same time, this opportunity is only possible because of Corie’s extraordinary leadership over the past seven years,” Kenny said. “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.”
Barry is the first woman CEO for Best Buy. Stepping into the position CEO in 2019, Barry led the company through the spike in sales for computer monitors and kitchen appliances during the COVID-19 pandemic. She also managed the company through supply-chain issues and global tariffs. Best Buy closed some stores in 2024 and 2025.
When Barry took the helm, stock shares were at $65.52, and they saw an all-time high at $138 in November 2021, CNBC reported. On Tuesday, shares closed at $66.59. Best Buy stock is still up 7% over the past year. Earlier this month, Goldman Sachs downgraded Best Buy stock from buy to sell.
Barry and Bonfig will work together in the coming months to ensure a smooth transition. She’ll remain as an advisor for six months after.
“I am deeply honored to take on this role,” Bonfig said. “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.”
Barry said she’s proud of her work at Best Buy.
“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,” she said. “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.”
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This story was originally published April 22, 2026 at 10:20 AM.