Best Buy (NYSE: BBY) hires Anne Bramman as new CFO amid CEO shift
Rhea-AI Filing Summary
Best Buy Co., Inc. appointed Anne Bramman as executive vice president and chief financial officer, effective August 19, 2026. She will lead the global finance organization and report to incoming CEO Jason Bonfig as the company continues a planned CEO transition.
Current CEO Corie Barry was named interim CFO effective August 1, 2026 and will retain her CEO role until Bonfig succeeds her on November 1, 2026. Bramman’s compensation includes a $950,000 annual base salary, a cash-based short-term incentive targeted at 150% of salary, fiscal 2027 equity awards valued at $3,250,000, a $500,000 sign-on cash award and a $1,250,000 sign-on equity grant, plus relocation and standard executive benefits.
The company states there are no special arrangements, family relationships or related-party transactions tied to these appointments. Best Buy generated more than $41.6 billion in revenue in fiscal 2026 and operates over 1,000 stores across North America.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CFO base salary: $950,000
Target bonus: 150% of base salary
Fiscal 2027 equity awards: $3,250,000
+4 more
7 metrics
CFO base salary
$950,000
Annual base salary for Anne Bramman as CFO
Target bonus
150% of base salary
Cash-based short-term incentive target for fiscal 2027
Fiscal 2027 equity awards
$3,250,000
Grant-date value of equity awards under 2020 Omnibus Incentive Plan
Sign-on cash award
$500,000
One-time sign-on cash payment to Anne Bramman
Sign-on equity award
$1,250,000
Grant-date value of time-based restricted shares as sign-on equity
Revenue
$41.6 billion
Revenue generated in fiscal 2026
Store count
more than 1,000 stores
Stores operated across North America
Key Terms
2020 Omnibus Incentive Plan, performance share awards, time-based restricted shares, short-term incentive, +1 more
5 terms
2020 Omnibus Incentive Plan financial
"equity-based awards under the Company’s 2020 Omnibus Incentive Plan having a grant date value"
short-term incentive financial
"eligible for an annual cash-based short-term incentive for fiscal 2027 with a target"
A short-term incentive is a cash or similar bonus paid to employees, often executives or sales staff, for meeting performance targets over a brief period (typically a year or less). It matters to investors because these payments shape management behavior, influence reported profits and cash flow, and signal which goals the company prioritizes—like rewarding quarterly sales or cost cuts—so they can affect future growth, risk and shareholder value.
Item 404(a) of Regulation S-K regulatory
"material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
Who has been appointed CFO of Best Buy (BBY) and when does she start?
Anne Bramman has been appointed executive vice president and chief financial officer of Best Buy, effective August 19, 2026. She will lead the global finance organization and report to incoming CEO Jason Bonfig as part of the company’s planned leadership transition.
How is new Best Buy (BBY) CFO Anne Bramman being compensated?
Anne Bramman will receive a $950,000 base salary, a cash-based short-term incentive targeted at 150% of salary, fiscal 2027 equity awards valued at $3,250,000, plus a $500,000 sign-on cash award, $1,250,000 in sign-on equity and relocation benefits.
What interim CFO arrangements has Best Buy (BBY) made before August 19, 2026?
Effective August 1, 2026, CEO Corie Barry was named interim CFO and will serve as principal financial officer until Anne Bramman assumes the CFO role on August 19, 2026. Barry receives no new compensation or severance agreements for this interim appointment.
How does the CFO appointment relate to Best Buy (BBY)'s CEO transition?
Anne Bramman will report to incoming CEO Jason Bonfig as Best Buy advances its CEO transition. Bonfig is scheduled to succeed current CEO Corie Barry on November 1, 2026, aligning the new CFO’s start with the upcoming leadership change.
What is the size of Best Buy (BBY)'s business as of fiscal 2026?
Best Buy reports generating more than $41.6 billion in revenue in fiscal 2026 and operating over 1,000 stores across North America, positioning it as the world’s largest specialty consumer electronics retailer by its own description.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 1, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | ||||
Registrant’s telephone number, including area code (612 ) 291-1000
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Best Buy Co., Inc. (the “Company” or “registrant”) announced today that Anne Bramman, age 58, has been appointed to serve as the Company’s Executive Vice President, Chief Financial Officer (“CFO”), effective August 19, 2026. Ms. Bramman will report to incoming Chief Executive Officer (“CEO”), Jason Bonfig, as the Company continues its CEO transition. Mr. Bonfig will succeed current CEO Corie Barry on November 1, 2026.
Ms. Bramman most recently served as chief financial and growth officer of Circana, Inc., a leading consumer analytics company, from June 2023 to August 2024. Prior to Circana, Ms. Bramman was CFO of Nordstrom, Inc., leading the department store chain’s financial strategy, capital allocation and digital transformation efforts, from June 2017 to December 2022. Prior to that, she also served as CFO of Avery Dennison Corporation and Carnival Cruise Line and held senior finance leadership roles at L Brands, Inc. She currently serves as a senior advisor and executive coach at Boston Consulting Group and on the boards of Morningstar, Inc. and McCormick & Company, directorships she has held since January 2026 and January 2020, respectively.
In connection with her appointment, Ms. Bramman will receive an annual base salary of $950,000 and will be eligible for an annual cash-based short-term incentive for fiscal 2027 with a target incentive opportunity of 150% of her base salary. In fiscal 2027, she will be granted equity-based awards under the Company’s 2020 Omnibus Incentive Plan having a grant date value of $3,250,000, half of which will be performance share awards and half of which will be time-based restricted shares, on terms consistent with the awards granted to the Company’s other executive officers. She will also receive a sign-on cash award of $500,000, a sign-on equity award with a grant date value of $1,250,000 in the form of time-based restricted shares and relocation benefits. She will be eligible for benefits available to executive officers generally, as outlined in the Company’s Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (the “SEC”) on April 30, 2026.
Effective August 1, 2026, the Company named Corie S. Barry to serve as Interim CFO until Ms. Bramman assumes the role of CFO on August 19, 2026. Ms. Barry, age 51, is currently CEO and will continue to serve as CEO while taking over the Company’s principal financial officer responsibilities. Ms. Barry previously served as the Company’s CFO between 2016 and 2019. No new compensation or severance agreements were entered into in connection with Ms. Barry’s appointment as Interim CFO.
There are no arrangements or understandings between Msses. Barry or Bramman and any other person pursuant to which Msses. Barry or Bramman, as applicable, was appointed to serve as an officer. There are no family relationships between Msses. Barry and Bramman and any other director or executive officer of the Company, and neither of Msses. Barry and Bramman has a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
For additional information regarding the registrant, see the registrant’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, and Proxy Statement filed with the SEC on April 30, 2026. Best Buy’s Annual Report to Shareholders and its report on Forms 10-K, 10-Q and 8-K and other publicly available information should be consulted for other important information about the registrant.
A press release announcing the matter described above is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
The following are filed as Exhibits to this Current Report on Form 8-K.
| Exhibit No. | Description of Exhibit | |||||||
99.1 | News release issued August 3, 2026. Any internet address provided in this release is for information purposes only and is not intended to be a hyperlink. Accordingly, no information at any internet address is included herein. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BEST BUY CO., INC. | ||||||||
| (Registrant) | ||||||||
| Date: August 3, 2026 | By: | /s/ TODD G. HARTMAN | ||||||
| Todd G. Hartman | ||||||||
| Executive Vice President, Chief Legal and Risk Officer and Secretary | ||||||||
Exhibit 99.1
Best Buy appoints Anne Bramman as Chief Financial Officer
Bramman, a veteran Fortune 500 executive, brings deep retail, consumer and operational finance expertise to Best Buy
She will join the executive leadership team under Jason Bonfig, who will succeed Corie Barry as CEO on Nov. 1
MINNEAPOLIS, August 3, 2026 — Best Buy Co., Inc. (NYSE: BBY) announced today the appointment of Anne Bramman as executive vice president and chief financial officer, effective Aug. 19.
Bramman joins Best Buy as a seasoned public company executive with more than 30 years of leadership experience across finance, operations, strategy and transformation. In her new role, she will lead Best Buy's global finance organization and help drive the company's strategic priorities in partnership with incoming Chief Executive Officer Jason Bonfig and the rest of the leadership team.
“Anne brings an impressive and unique combination of finance and operations experience that aligns perfectly with Best Buy and where we’re headed,” said Jason Bonfig, incoming CEO. “Her consumer expertise, along with her proven track record of leading teams and creating long-term shareholder value will be instrumental as we take on our next chapter.”
“I’ve long admired Best Buy’s ability to adapt, innovate and stay deeply connected to its customers,” said Bramman. “I’m thrilled to join the company and I look forward to working with Jason and the impressive Best Buy team to help accelerate growth and build an exciting future together.”
Prior to joining Best Buy, Bramman held leadership roles at numerous consumer, technology and industrial organizations. She most recently served as chief financial and growth officer of Circana, a leading consumer analytics company. Prior to Circana, Bramman was CFO of Nordstrom, leading the company's financial strategy, capital allocation and digital transformation efforts. She also served as CFO of Avery Dennison and Carnival Cruise Line and held senior finance leadership roles at L Brands. Today, she serves on the boards of Morningstar and McCormick & Company.
Bramman will report to Bonfig and serve on his executive leadership team as the company continues its CEO transition. Bonfig will succeed current CEO Corie Barry on Nov. 1.
About Best Buy
Best Buy (NYSE: BBY) is the world's largest specialty consumer electronics retailer. Our purpose is to enrich lives through technology by helping customers discover, buy and enjoy products and services that improve their lives. We generated more than $41.6 billion in revenue in fiscal 2026 and operate more than 1,000 stores across North America.