Best Buy will hand the reins to longtime executive Jason Bonfig as CEO, ending Corie Barry’s tenure in October. Barry, 51, has guided the retailer through a turnaround since 2019, yet sales growth has stalled, weighing on the stock. Bonfig, 49, has spent 24 years rising from inventory analyst to chief customer, product and fulfillment officer.

The transition follows years of tepid revenue, prompting investors to seek fresh direction. Barry’s exit will also remove her from the board, where she remains a member until the end of October. She will serve as an adviser for six months, a move that preserves continuity while signaling a shift in strategy.

Bonfig will join the board once he assumes the top post, consolidating his influence over product and supply‑chain decisions. His deep familiarity with Best Buy’s operations could accelerate initiatives that had stalled under Barry, such as expanding the company’s online footprint and improving inventory efficiency.

Investors will watch the stock closely for signs of renewed growth as the new CEO takes the helm. A smooth handover could reassure markets that Best Buy remains committed to adapting its retail model in a fiercely competitive sector.