April 22 (UPI) -- Best Buy announced its new CEO will be Jason Bonfig, who has worked as the company's chief customer, product and fulfillment officer, to replace Corie Barry.
Barry, 51, will step down as CEO and board member on Oct. 31, when Bonfig, 49, will join the board.
Bonfig joined the company in 1999 as an inventory analyst and worked his way through the company ranks. He will be the sixth CEO of Best Buy.
Best Buy is hoping to boost its sales with mobile phones and laptops. Its sales have lagged in recent years, which the company attributes to a slowed housing market, price-conscious shoppers and slower tech innovation, CNBC reported.
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