Best Buy has named longtime executive and insider Jason Bonfig as its new chief executive officer, replacing Corie Barry. Bonfig, who previously served as the company's chief customer, product and fulfillment officer, becomes the sixth CEO in the electronics retailer's 60-year history.
The leadership change comes as the U.S. retailer grapples with weak consumer demand and tariff-related supply-chain pressures.
Additionally, the company aims to rev up sales and capitalize on innovation fueled by artificial intelligence in laptops and mobile phones.