Best Buy has announced a new CEO: Longtime executive Jason Bonfig, currently the company’s chief customer, product, and fulfillment officer, is set to take the helm following Corie Barry’s Oct. 31 departure.

Barry became CEO of the Richfield-based electronics retailer in 2019. The first woman in the role—and Minnesota’s third female CEO of a Fortune 500 company—she steps down at the end of Q3 as planned, per a Wednesday news release, to serve as a strategic advisor for another six months.

Bonfig fills Barry’s role after having overseen the core elements of Best Buy’s business: merchandising, e-commerce, marketing, supply chain, and retail media. He joined the company as an inventory analyst in 1999 and has since held leadership roles in merchandising and computing, per his LinkedIn profile. He will become Best Buy’s sixth CEO in its 60-year history. The board considered internal and external candidates, the release notes.

“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,” board chair David Kenny said.

Bonfig most recently led the creation of Best Buy’s online marketplace and the scaling of its in-house retail media network.

“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.” He also expressed admiration for Barry, “who has had a meaningful impact on me as a leader and helped create the strong, resilient company we are today.”

Barry served the second-longest CEO tenure in company history. In its release, Best Buy noted Barry created a culture that delivered “record-high engagement scores among Best Buy’s more than 80,000 employees.”

Best Buy generated $41.7 billion of revenue in the 2026 fiscal year. Q4 comparable sales were down 0.8% year-over-year, within the guidance range for the quarter. The company has not yet released its annual report. It operates more than 1,000 retail stores in North America.