Form 8-K · Current Report · Filed 2026-04-22
Best Buy Announces CEO Succession Plan with Jason Bonfig as New CEO
Best Buy Co., Inc. announced a CEO succession plan with Corie Barry stepping down as CEO and member of the Board on October 31, 2026. Jason Bonfig, currently the Senior Executive Vice President, Customer Offering, Fulfillment, and Best Buy Canada, will succeed Barry as CEO and join the Board effective November 1, 2026. Bonfig's new role will see an increase in his annual base salary to $1,250,000 and his annual short-term incentive award target to 190% of base salary. His long-term incentive award will have a target value of $10,125,000 starting in fiscal 2028. Barry will remain with the company as a strategic advisor for six months post-departure, with her annual base salary decreasing to $1,000,000.
- Filer
- Best Buy Co., Inc. BBY · NYSE
- Filed
- Accession
- 0000764478-26-000012
- CIK
- 0000764478
- Signal
- High impactConsumer Cyclical
- Source
- Official filing on sec.gov ↗
Items reported
Reported Item
Market reaction
Close before filing
$66.59
Next session
-7.6%
Since filing
+29.5%
Latest close
$86.26
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from BBY reporting the same item, with the next session's move:
Insider tape
Within 45 days of this filing, BBY insiders reported 7 Form 4 transactions — net selling of $38.2M.
About Best Buy Co., Inc.
Best Buy Co., Inc. is a leading multinational retailer specializing in the sale of consumer electronics, technology products, and appliances. Its primary function is to provide a wide range of technology-related products and services, catering to personal, business, and education sectors. Best Buy operates through various channels, including retail stores, online platforms, and service centers, ensuring a comprehensive customer experience. The company offers an extensive product portfolio, including computers, mobile phones, home theaters, appliances, and smart home innovations, along with an array of after-sale services such as technical support, installation, and repairs. Best Buy is prominently positioned in the retail industry, recognized for its commitment to both customer service and technological integration. Founded in 1966 and headquartered in Richfield, Minnesota, the company has consistently adapted to new consumer trends and technological innovations, contributing significantly to the retail sector by embracing digital transformation and enhancing the value proposition for consumers worldwide. Its market significance is reinforced by its ability to navigate the evolving landscape of electronics retailing, making it an essential player in shaping consumer purchasing decisions related to technology.
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