Corie Barry steps down as Best Buy names Jason Bonfig CEO
corie barry is stepping down as Best Buy CEO at the end of the third quarter, with Jason Bonfig set to take over on Oct. 31. The move puts an internal operator in charge as the retailer faces sluggish sales, weaker holiday demand, and pressure to keep pace with artificial intelligence. Best Buy said Barry will remain a strategic adviser for six months after the handoff.
Leadership shift at a critical moment
The transition marks a major change for Best Buy, and corie barry leaves after serving as the company’s chief executive since 2019. She was the first female CEO in Best Buy history and led the retailer through the COVID-19 pandemic and President Trump’s tariffs, both of which reshaped the business environment for electronics sellers.
Bonfig currently serves as Best Buy’s chief customer, product, and fulfillment officer. he will also replace Barry on the board when he takes the top job. He joined Best Buy as an inventory analyst in 1999, the same year Barry did, making this a leadership change built from deep internal experience rather than an outside hire.
Bonfig takes over amid pressure on sales
Best Buy is entering the transition with several challenges still in view. The company has been dealing with sluggish sales across segments including entertainment and appliances, while consumers have been pulling back on holiday purchases. Same-store sales fell 0. 8% in the fourth quarter, below expectations, underscoring the pressure on the business.
Bonfig has already played a central role in Best Buy’s growth efforts. He oversees supply chain and marketing operations, helped launch the company’s online U. S. marketplace, and leads Best Buy Ads, the retail media network that has become part of the company’s strategy. Those roles suggest continuity, even as the company looks for faster execution.
What Barry and Bonfig said
Barry said Bonfig is the right person to accelerate the company’s strategy and move Best Buy forward. In a note to employees, she described him as a leader with “maniacal customer focus, innovative thinking and thoughtful decision-making. ”
Bonfig, in the same note, said the company needs to do more and do it quicker. He pointed to the rollout of the U. S. marketplace and the scaling of Best Buy Ads as examples of what the team can achieve with more agility, creativity, and a stronger willingness to embrace change. He added that he wants the team to be “even more aggressive in our mindset and approach. ”
Context and what comes next
The leadership change comes as Best Buy continues to navigate a retail environment shaped by shifting consumer spending, higher memory chip costs, and the need to adapt to changing technology needs. The company’s stock has risen only modestly since Barry took over in 2019, while broader market gains have been far stronger.
Over the next several months, attention will turn to how Bonfig balances continuity with faster execution. For Best Buy, the central question is whether the new era under corie barry’s successor can restore momentum at a time when the company says it must move with greater speed and keep up with change.
