Best Buy Co. Inc. (NYSE: BBY) announced that its board of directors selected Jason Bonfig as the company's next chief executive officer. Bonfig, currently serving as Chief Customer, Product and Fulfillment Officer, will succeed Corie Barry, who plans to step down at the end of the third quarter on Oct. 31.

Barry will remain as CEO and board member until her departure date, after which Bonfig will also join the board of directors. The retailer stated that Barry will continue as a strategic advisor for six months following her resignation.

The board's selection process considered both internal and external candidates for the position. Bonfig will become the sixth CEO in Best Buy's 60-year history.

"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.

Bonfig currently oversees merchandising, ecommerce, marketing, supply chain, Best Buy Canada and Best Buy Ads, the company's retail media network. He led the creation of the company's online Marketplace in the U.S. and the expansion of its Best Buy Ads business.

The executive joined Best Buy in 1999 as an inventory analyst and has held various positions within the company over 25 years. Barry served as CEO for seven years and is the second-longest tenured chief executive in the company's history.

Best Buy operates more than 1,000 retail stores in North America and employs more than 80,000 people. The company reported $41.7 billion in revenue for fiscal 2026.