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00:02Best Buy said Jason Bonfig will succeed Corey Berry as CEO on October 31st
00:07as the company seeks to restart sales growth, according to CNBC.
00:11Bonfig joined in 1999 and oversees merchandising, marketing, supply chain, e-commerce, and advertising.
00:18He helped launch Best Buy's U.S. third-party marketplace in August to drive sales and profits.
00:24Board of Directors David Kenney said Bonfig is the right leader to accelerate the business
00:29and drive growth for the company and its shareholders.
00:32The change comes as sales have lagged over the past four years due to a slower housing market,
00:37price-conscious consumers, and less tech innovation.
00:40Best Buy expects fiscal year revenue of $41.2 billion to $42.1 billion
00:46and adjusted earnings of $6.30 to $6.60 per share,
00:52compared with $41.69 billion and $6.43 per share last year.
00:57For all things money, visit Benzinga.com.
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