Minneapolis — The board of directors of Best Buy Co., Inc. has selected Jason Bonfig, the company’s chief customer, product and fulfillment officer, to succeed Corie Barry as the next chief executive officer at Best Buy. Barry will step down from her roles as CEO and member of the board at the end of third quarter on Oct. 31 of this year. Bonfig will also join the board at that time.
Bonfig’s appointment as the sixth CEO in the company’s 60-year history is the result of an extensive process conducted by the board that considered internal and external candidates. Barry and Bonfig will continue to work closely over the coming months to ensure a smooth transition. Barry will also remain as a strategic advisor for 6 months after she steps down as CEO.
“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,” says David Kenny, chair of the Best Buy board of directors. “At the same time, this opportunity is only possible because of Corie’s extraordinary leadership over the past 7 years. 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.”
Bonfig currently oversees the core elements of Best Buy’s business, including merchandising, e-commerce, marketing, supply chain, Best Buy Canada and Best Buy Ads, the company’s retail media network. Most recently, he led the creation of the company’s online Marketplace in the U.S. and the scaling of its Best Buy Ads business, key components of Best Buy’s growth strategy. Bonfig joined the company as an inventory analyst in 1999.
Best Buy is the world’s largest specialty consumer electronics retailer with more than 1,000 retail stores in North America. For more information, visit www.corporate.bestbuy.com.
SOURCE: Best Buy