-- Best Buy (BBY) said Wednesday that Corie Barry will step down as chief executive of the electronics retailer, with insider Jason Bonfig set to succeed her.
Chief Customer, Product and Fulfillment Officer Bonfig is set to replace Barry, who will continue with Best Buy as an adviser for six months after stepping down as CEO at the end of October.
Bonfig, who joined the company in 1999 as an inventory analyst, oversees areas including merchandising, ecommerce, marketing and supply chain. He's also in charge of Best Buy Canada and the company's retail media network.
"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," Chairman David Kenny said in a statement.
Barry has served in the top role at Best Buy since 2019.
Shares of the company declined 5.1% in Wednesday trade.
In March, Best Buy reported fiscal 2026 earnings growth to $6.43 per share from $6.37 a year earlier. Revenue for the year ended Jan. 31 increased to $41.69 billion from $41.53 billion amid comparable sales turning positive year over year.
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