Best Buy promotes finance exec to chief role

Best Buy Co Inc. is naming a 13-year company veteran as its new CFO.

Matt Bilunas, currently serving as Best Buy’s senior VP of enterprise and merchandise finance, will be promoted to CFO, effective July 29, 2019. Bilunas has risen through the company’s finance organization and has held both corporate and field roles, along with domestic and international positions.

In his current position since 2017, Bilunas has been responsible for the company’s planning processes, including strategic planning, annual budgeting, monthly forecasting and capital planning. Bilunas, 47, fills the role that was previously held by Best Buy CEO Corie Barry. Barry was elevated from CFO to CEO on June 11, 2019, in conjunction with Hubert Joly’s transition to executive chairman of the Best Buy board of directors.

“Matt has been a key finance leader for a number of years and has played a very important role in creating and implementing our growth strategy,” Barry said. “After working closely with him for more than a decade, I trust him and am completely confident that his experience, skills and commitment to the company’s continued growth make him the perfect choice for this role.”

“I am excited about the opportunity to be Best Buy’s CFO,” said Bilunas. “We have made tremendous progress in how we enrich people’s lives through technology, and I am committed to doing everything possible to help this company build even deeper relationships with our customers as we serve them online, in stores and in their homes.”

Bilunas joined Best Buy in 2006 as a director of territory finance based in the Los Angeles area. He later served as a director of international finance, senior director of enterprise finance, VP of e-commerce and marketing finance and VP of merchandise, e-commerce, marketing and re-commerce finance.

Prior to Best Buy, Bilunas worked at Carlson Companies, NRG Energy Inc., Bandag Inc. and KPMG. He holds a bachelor’s degree in accounting from Iowa State University.