Best Buy announces Executive Team updates

Leadership team evolution positions company to accelerate its strategic priorities

Key Highlights

• Executive Team: Best Buy announces new leaders as part of its CEO transition and ongoing evolution of its Executive Team.
• Strategic acceleration: This evolution of the Executive Team positions Best Buy to accelerate its four strategic priorities that will define the future of the company.
• Leadership updates: Frank Bedo has been named chief strategy and growth officer; Patrick McGinnis has been named chief revenue officer; Luke Motschenbacher has been named chief retail and services officer; Lisa Valentino has been named chief ads and media officer; and Duane Scarboro has been named chief fulfillment and operations officer.
• Effective immediately: These leadership changes take effect immediately.

Best Buy has announced new leaders appointed to its Executive Team.

As a part of its CEO transition, this evolution of the company's leadership team positions Best Buy to accelerate our strategic priorities to 1) advance as a retail, media & advertising and technology company, 2) expand and grow our reach, 3) elevate the customer experience and 4) be a human-powered, customer-focused company.

"Our four priorities give us a clear view of where we're headed, and there's an incredible foundation and momentum getting us there," said Jason Bonfig, incoming chief executive officer. "But to truly become the Best Buy we know we can be, we have to organize against the right work and with the right leaders.

"This new team brings together deep expertise, a strong customer focus and a shared desire and commitment to advancing our strategy. They are the right leaders to bring us into our next chapter of creating growth for the company by providing incredible experiences for customers and our teams."

These leadership appointments are effective immediately, each reporting to Bonfig:

• Frank Bedo has been named chief strategy and growth officer. Bedo has more than 25 years of merchandising and e-commerce experience at Best Buy across areas including computing, mobile, digital imaging, accessories and more. Most recently, he served as chief marketplace and eCommerce officer. In his new role, Bedo is responsible for shaping the strategy for the future of Best Buy, including growth opportunities, investments, new partnerships and customer experiences.
• Patrick McGinnis has been named chief revenue officer. McGinnis joined Best Buy in 2002 and has held a variety of leadership roles ranging from merchandising and Best Buy's exclusive brand business to membership and customer relationship work. Most recently, he served as chief merchandising officer. In his new role, McGinnis oversees all revenue-driving components of the business, including merchandising, e-commerce, Marketplace and Best Buy Health. He also oversees the Best Buy Canada business.
• Luke Motschenbacher has been named chief retail and services officer. Motschenbacher has been at Best Buy more than 20 years and has managed and developed strategic relationships and led a variety of merchandising teams across categories and industries. Most recently, he served as president of retail and led our retail store teams. In his new role, Motschenbacher is responsible for overseeing all stores in the U.S., as well as the services that together help create the right customer experiences.
• Lisa Valentino has been named chief ads and media officer. Valentino joined Best Buy in 2024 and has more than 20 years of media and advertising leadership experience. Most recently, she served as president of Best Buy Ads, the company's retail media network. In her new role, Valentino is responsible for the ads and media business, including Best Buy Ads.
• Duane Scarboro has been named chief fulfillment and operations officer. Scarboro joined Best Buy in 2003 and has been instrumental in modernizing Best Buy's supply chain to deliver an exceptional customer and employee experience. Most recently, he served as senior vice president of supply chain distribution operations. In his new role, Scarboro is responsible for bringing together the teams that power the way products and services move through the business - including sourcing, supply chain, fulfillment, delivery, service and execution in our stores.

Jeff Haydock, chief communications and public affairs officer, and Jennie Weber, chief marketing officer, will continue reporting to Bonfig.

Bonfig, Todd Hartman, chief legal and risk officer; Neal Sample, chief digital and technology officer; and Kamy Scarlett, chief human resources officer, will continue to report to CEO Corie Barry until her departure on Oct. 31.

The company is conducting an external search for a chief financial officer to partner with Bonfig. Current CFO Matt Bilunas is stepping down effective July 31.

About Best Buy

Best Buy (NYSE: BBY) is the world's largest specialty consumer electronics retailer. Our purpose is to enrich lives through technology, which we do by providing our customers a unique mix of advice, products and services in our stores, online, and in homes. Our expert associates advise customers on our curated assortment of the latest, name-brand technology, while our highly trained services teams help with designs, consultations, delivery, installation, tech support and repair. We are a leader in corporate responsibility and sustainability issues, including through the Best Buy Foundation's nationwide Best Buy Teen Tech Center® network and the significant role we play in the circular economy through repair, trade-in and recycling programs. We generated more than $41.6 billion of revenue in fiscal 2026, operate more than 1,000 retail stores in North America, and have more than 80,000 employees. For more information, visit corporate.bestbuy.com and investors.bestbuy.com.

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