01—Abstract
Summary
Summary of the 8-K filed June 22, 2026. Cited figures are marked; the original filing is the authoritative source.
Best Buy Co., Inc. (NYSE: BBY) reported in this Form 8-K, filed June 22, 2026, under Item 5.02 that Matt Bilunas, Senior Executive Vice President, Chief Financial Officer and Enterprise Strategy, will depart the company effective July 31, 2026.
Upon his departure, he will receive separation benefits under the Company's ERISA plan, as described in the Company's Definitive Proxy Statement filed April 30, 2026. The accompanying press release (Exhibit 99.1) states that Best Buy has engaged an external search firm and expects to name a successor with previous CFO experience. Corie Barry, the current CEO who previously served as CFO, will provide financial oversight during the transition if needed.
The release also notes that Jason Bonfig will become the company's sixth CEO on November 1, 2026. Bilunas served as CFO for seven years and joined Best Buy in July 2006, with a 20-year tenure at the company. The release describes Best Buy as the world's largest specialty consumer electronics retailer and states it generated $41.7 billiona of revenue in fiscal 2026.
For investors, the key takeaways are a leadership transition in the finance function, with the CFO role to be filled externally, coinciding with a CEO handover scheduled for November 1, 2026. The filing does not describe the financial impact of the transition or any changes to reported results.
02—Key points
Key Highlights
- Matt Bilunas, SVP, CFO and Enterprise Strategy, will depart Best Buy effective July 31, 2026, after 20 years with the company and seven years as CFO.
- Bilunas will receive separation benefits under the Company's ERISA plan, as described in the April 30, 2026 Definitive Proxy Statement.
- Best Buy has engaged an external search firm and expects to name a successor with previous CFO experience.
- CEO Corie Barry, a former CFO, will provide financial oversight during the transition if needed.
- Jason Bonfig will become the company's sixth CEO effective November 1, 2026, and has unveiled four growth priorities.
- Best Buy reported $41.7 billion of revenue in fiscal 2026 and operates more than 1,000 retail stores in North America with more than 80,000 employees.
- The filing is a Form 8-K under Item 5.02 (Departure of Certain Officers), with the press release furnished as Exhibit 99.1.
03—Questions
Frequently Asked Questions
Why is the CFO leaving Best Buy?
The filing and accompanying press release announce that Matt Bilunas will step down and depart the company at the end of July 2026. The documents do not state a reason for his departure beyond his expressions of gratitude and confidence in the company's future.
When does the CFO departure take effect?
Bilunas's departure is effective July 31, 2026.
Who will replace Matt Bilunas as CFO?
Best Buy has engaged an external search firm and expects to name a successor with previous CFO experience. Until then, CEO Corie Barry will provide financial oversight during the transition if needed.
What separation benefits will Bilunas receive?
Following his departure, Bilunas will receive separation benefits in accordance with the Company's ERISA plan, as described under 'Executive and Director Compensation—Potential Payments Upon Termination or Change of Control' in the Definitive Proxy Statement filed April 30, 2026. The 8-K does not itemize the amounts.
How does this transition relate to the CEO change?
Jason Bonfig will become CEO on November 1, 2026, and the press release says the company is conducting an external search for a CFO to partner with him. The CFO search is therefore tied to the incoming CEO's leadership team.
04—Continue