CFO Matt Bilunas to Step Down after Two Decades at Best Buy

Best Buy Chief Financial Officer Matt Bilunas is to step down and leave the company at the end of July.

The US consumer electronics retailer has engaged an external search firm to find its next finance chief. 

The company confirmed it expects to name a successor who possesses previous CFO experience.

To ensure stability during the transition, current CEO Corie Barry will provide financial oversight if required. Corie is well equipped for the interim responsibility, having previously served as the company’s CFO.

She addresses the long-term value that the outgoing finance director leaves behind, both in terms of balance sheet management and corporate culture.

“The past seven years have been exciting, challenging, unpredictable and meaningful, and I truly believe we wouldn't have navigated them as well as we did if it weren't for Matt,” comments Corie. 

“His impact on this company will last for years to come; not only because of his financial leadership, but because of the way he has developed talent and helped shape our strategy. His impact on me personally will last a lifetime.”

A 20-year tenure

The departure marks the end of a significant chapter for Matt, who joined Best Buy two decades ago in July 2006 as a Territory Finance Director.

During his tenure, he held numerous finance roles across the organisation – including Senior Vice President of Enterprise Finance – before being promoted to the CFO position in 2019.

Most recently, his remit extended far beyond core accounting; he was responsible for finance, enterprise strategy, procurement, financial services, real estate and omnichannel operations.

Reflecting on his departure, Matt notes: “I am truly honored to have been part of this great company and grateful to those who have made a lasting impact on my life and career. I am proud of what we have accomplished together, and even more proud of the people and teams I have had the privilege to work alongside. 

“Best Buy is well positioned for the future, and I have tremendous confidence in Jason and the next generation of leaders who will continue to build on the momentum we’ve created.”

Navigating turbulent times

Matt has served as CFO for the last seven years, working hand in hand with Corie and Jason Bonfig to navigate a range of challenging environments to help generate the momentum driving Best Buy and its business today.

His departure comes at a time of broader leadership evolution for the retailer. Jason Bonfig, SVP and Chief Customer, Product and Fulfillment Officer, is set to become the company’s sixth CEO when he officially takes over the role on 1 November 2026.

Jason recently unveiled the four priorities Best Buy will focus on to grow the business, which the company says are: “Advancing Best Buy as a retail, media & advertising and technology company; expanding and growing our reach; elevating the Best Buy experience and being a human-powered, customer-focused company.”

The incoming CEO expressed deep gratitude for the outgoing CFO's contributions to the firm's capital structure and operational health.

"We wouldn't be where we are today, or have such confidence in the future ahead of us, without Matt,” says Jason. 

“He helped build Best Buy in invaluable ways, and I'm genuinely grateful for everything he has contributed and everything I've learned from him over the years.”