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(Sharecast News) - Best Buy said on Wednesday that it has promoted chief customer, product and fulfilment officer Jason Bonfig to the role of chief executive, succeeding Corie Barry.
Barry is due to step down from her roles as CEO and member of the board at the end of October.
The US specialty consumer electronics retailer said Bonfig's appointment as the sixth CEO in the company's 60-year history is the result of an "extensive process" conducted by the board that considered both internal and external candidates.
It said Barry and Bonfig will continue to work closely over the coming months to ensure a smooth transition. Barry will also remain as a strategic advisor for six months after she steps down as CEO.
Chair David Kenny said: "As a board, we are confident that Jason is the right leader to accelerate the business, with urgency and innovative ideas, and create meaningful growth for the company and its shareholders.
"At the same time, this opportunity is only possible because of Corie's extraordinary leadership over the past seven years. She guided Best Buy with a confident and steady hand and an unrelenting commitment to drive value for our employees, customers, partners and shareholders through some of the most tumultuous and uncertain times we have ever seen."
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