Best Buy names Jason Bonfig as CEO, CEO Corie Barry to depart Oct 31, 2026

BEST BUY CO INC

Corie Barry will step down as CEO and Board member effective Oct 31, 2026; she will serve as strategic advisor for 6 months post-departure at $1M salary.
Jason Bonfig appointed CEO and Board member effective Nov 1, 2026; he currently oversees merchandising, ecommerce, supply chain, Best Buy Canada, and Best Buy Ads.
Bonfig's base salary raised to $1.25M; short-term incentive target 190% of salary; long-term incentive target $10.125M starting fiscal 2028.
Bonfig's initial term is 3 years; enhanced severance upon change-of-control termination (2x base+bonus plus pro-rata annual bonus).
Board conducted extensive internal/external search; Bonfig is the sixth CEO in the company's 60-year history.

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