secwatch.observer — SEC 8-K summary
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Issuer:     BEST BUY CO INC (BBY)
CIK:        0000764478
Form:       8-K
Filed at:   2026-04-22T23:59:59+00:00
Accession:  0000764478-26-000012
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764478/000076447826000012/0000764478-26-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764478/000076447826000012/bby-20260419.htm
  HTML page:      https://secwatch.observer/filing/0000764478-26-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer