Best Buy taps insider Bonfig to succeed veteran Barry as CEO amid demand slowdown



A man poses for a photograph.

Best Buy on Wednesday named insider Jason Bonfig as CEO, replacing longtime executive Corie Barry, in a leadership change that comes as the U.S. retailer grapples with weak consumer demand and tariff‑related supply‑chain pressures.

The company, which operates more than 1,000 stores across North America, has been working to revive growth by expanding online sales, services and advertising as competition intensifies across the sector.

As the company's chief customer, product and fulfillment officer, Bonfig has been overseeing many of these initiatives, along with the company's Canadian business and its retail media unit, Best Buy Ads.

He most recently led the launch of Best Buy's online marketplace in the U.S. and the expansion of its advertising business, much like Amazon and Walmart, as retailers look to leverage their own customer data to attract brands.

"As a board, we are confident that Jason is the right leader to accelerate the business," board chair David Kenny said in a statement.

Best Buy had seen a boost in demand during the COVID-19 pandemic, but it tapered off as consumer sentiment for big-ticket items such as televisions, computers and appliances weakened due to inflation and higher borrowing costs.

The CEO change at Best Buy is the latest in a string of C-suite changes over the past year at consumer goods companies and retailers, including Coca-Cola, Procter & Gamble and Walmart.

Barry, a nearly three-decade Best Buy veteran, who became the retailer's first female CEO in 2019, will remain a strategic adviser for six months after stepping down at the end of October.

Shares of the company were down 4 percent in early trading.

"Barry turned the company around during a challenging time- Covid! But it looks like Bonfig wants to position the company for the AI age," said Kimberly Forrest, chief investment officer at Bokeh Capital Partners.



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A Republican lawmaker charged in an alcohol-related driving offense won’t have to appear in court again until after the Legislature adjourns for the year.

A June 10 arraignment hearing is set for Rep. Elliott Engen, a Lino Lakes Republican who faces three misdemeanor charges following an arrest early Friday. He was stopped for speeding and other infractions in White Bear Lake; officers detected alcohol and he later tested well above the legal limit for driving, according to a citation.

Engen has apologized for a lapse in judgment; he promised to learn from his actions and “do better.” Aside from being a second-term legislator, he is also a candidate for state auditor.

A second lawmaker, GOP Rep. Walter Hudson, was in Engen’s truck at the time of the stop and an open bottle of alcohol was found in a rear seat. Hudson, a second-term legislator from Albertville, was in possession of a permitted handgun, which could cause him legal problems if he is determined to have been intoxicated.

Police officers wrote in their report that Hudson disclosed he had the gun as the truck was being searched. The report said police took the firearm for safekeeping and said he could pick it up at a later time, which Hudson agreed to.

“I regret the poor decisions that were made during this incident, and commend the White Bear Police Department for their professional response,” Hudson said in a written statement. “I’m grateful that no harm was done to ourselves and others.”

Two lawmakers stand and look around
Rep. Walter Hudson, R-Albertville, (center) and Rep. Bidal Duran, R-Bemidji, (right) join other Republican lawmakers gather in the House chambers Jan. 27, 2025.
Tim Evans for MPR News file

A third, unidentified passenger was in the truck as well, according to police. Hudson and that person were transferred to the police department until they could arrange rides.

The Minnesota lawmakers had been at the Capitol late into the evening Thursday as the House debated procedural motions on gun, immigration and social media legislation. The motions failed on 67-67 votes.

There is no indication yet that either Hudson nor Engen had been drinking on Capitol grounds, which would be a violation of a House rule against consumption of alcohol or drugs in spaces under that chamber’s control.

According to a White Bear Lake Police report, Engen initially said he had not been drinking when asked by the police officer who pulled him over — “nothing at all,” he is quoted as saying. He performed a field sobriety test, which the report says showed signs of impairment.

Engen gave a preliminary breath sample there, the report says, which estimated a 0.142 blood alcohol level. After he was taken by squad car to the police department “Engen spontaneously stated, ‘Sir, I had a drink three hours ago,’” the report says.

He told the Minnesota Star Tribune in an interview Monday that he had also consumed alcohol in the afternoon on Thursday as well.

Engen is charged with two impaired driving offenses and speeding. White Bear Lake police also said he was driving a vehicle with expired registration and an inoperable headlight.

Engen has not returned calls from MPR News. A court docket lists a “notice of appearance” on Tuesday.

He is being represented in the criminal case by Chris Madel, an Excelsior attorney who waged a brief Republican campaign for governor.



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