Short answer
Best Buy (BBY) filed an 8-K current report with the SEC on April 22, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item EX-99.1 (Exhibit EX-99.1). Corie Barry departs CEO and board roles October 31, 2026, ending her leadership tenure.
Best Buy 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Corie Barry departs CEO and board roles October 31, 2026, ending her leadership tenure
- Jason Bonfig becomes CEO and director November 1, 2026, following 25 years in Best Buy merchant roles
- CEO compensation rises to $1,250,000 salary and 190% short-term incentive target
- Long-term incentive target reaches $10,125,000 from fiscal 2028, plus $1,781,250 fiscal 2027 equity true-up
- Barry remains strategic advisor six months after departure at $1,000,000 annualized salary, supporting leadership continuity
Item EX-99.1 · Exhibit EX-99.1
- CEO succession: Corie Barry departs October 31; Jason Bonfig succeeds as CEO and joins the Board
- Bonfig’s internal promotion supports continuity, with experience overseeing merchandising, ecommerce, supply chain and Best Buy Canada
- Barry remains strategic advisor for six months, reducing near-term transition risk
- Leadership change arrives after fiscal 2026 revenue of $41.7 billion and amid a stated focus on accelerating growth
- Bonfig’s Marketplace and Best Buy Ads initiatives may become strategic priorities under his leadership
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