Business
Best Buy CEO says C-suite resilience in the age of AI requires constant learning
Good morning from Washington, D.C. Today marks Day 3 of the Fortune Most Powerful Women Summit.
This year’s theme, “Leading in a Dynamic World,” has set the stage for insightful discussions with distinguished leaders on topics ranging from the proliferation of AI to navigating uncertainty and sharing best practices in leadership.
During these uncertain times—shaped by shifts in trade policy and geopolitics—keeping the consumer top of mind is vital. “Our focus is just maniacally on the customer,” said Corie Barry, CEO of Best Buy, during a fireside chat with Fortune’s Emma Hinchliffe on Tuesday. Barry noted that it has never been more important for her to understand and adapt to the distinct behaviors of different consumers.
Over the past 18 months, consumers have remained more resilient than expected, continuing to spend when they have a need or when innovation captures their attention, she explained. “But they are very value-focused,” she said. That doesn’t necessarily mean they’re seeking the cheapest option. Barry added: “Their question is, ‘How do I fulfill my need in a way that matches my budget?’”
Barry also pointed out growing disparities between high- and low-income earners; she sees high-earners as propping up the economy. “That is probably what keeps me up at night,” she said.
To address these challenges, she seeks to maintain a customer-centric approach, leveraging AI for smarter decision-making and meeting individual consumer needs across channels. For C-suite leaders, that also means embracing a mindset of constant learning.
“One of the greatest joys of this job is how many chances I get to learn; it’s something that fuels me,” Barry said. In the age of AI, she added, “the idea of unlearning and relearning is one of the most important,” noting that few CEOs likely graduated with a degree in advanced AI.
Barry regularly meets with economists from major banks to analyze data and metrics related to consumer health and then translates those insights into action. “I’m not trying to predict the future—that’s a useless task at this point,” she said. “What I’m trying to figure out is how we best position the company and create resiliency.”
Barry offered additional advice for leaders: surround yourself with people who are much smarter than you and don’t be afraid to ask for help.
To create resiliency for the company, “it can’t just be about you as the CEO,” she said.
Sheryl Estrada
sheryl.estrada@fortune.com
Leaderboard
Mark Daniel was appointed CFO of Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical-stage biopharmaceutical company. Daniel is a senior finance leader with more than 25 years of experience. He also brings deep treasury and capital markets expertise relevant to Atossa’s transition from clinical development to commercialization.
Kris Smith, CFO of Suncor Energy (NYSE: SU) will retire on Dec. 31, after more than 25 years of service. During his tenure at the company, Smith has held several roles, including EVP, downstream and interim CEO. Troy Little, currently SVP of external affairs, will be appointed CFO. Little has over 25 years of financial experience.
Big Deal
The Fortune 100 Fastest-Growing Companies, in its 40th year, was released this morning. Taking the No. 1 spot is tech giant Nvidia.
The list ranks companies based on growth in revenue, profits, and stock returns; this year’s edition tracks those metrics over the three years through June 2025. The companies featured are worth a combined $7.6 trillion in market capitalization and, on average, delivered an annual 40% return to shareholders over the past three years. That significantly outperformed the S&P 500 index’s 20% annual return to shareholders over the same period.
Going deeper
“Can AI Help Us See Beyond Differences to Find Common Ground?” is a new article in Wharton’s business journal. Wharton visiting scholar Cornelia Walther explains how AI can help business leaders translate different mindsets and communicate more effectively.
Overheard
“If you have an iPad in front of me and it looks like you’re reading your email and your notifications, I’ll tell you to close the damn thing. It’s disrespectful.”
—JPMorgan Chase CEO Jamie Dimon shared his thoughts on meeting etiquette, among other topics, in a fireside chat with Fortune Editor-in-Chief Alyson Shontell in Washington, D.C., on Tuesday at the annual Most Powerful Women Summit.
