Best Buy CEO Corie Barry will stay in role after board investigates allegations against her
NEW YORK — Best Buy said Tuesday that CEO Corie Barry will continue to lead the company after its board completed an investigation into allegations against her in an anonymous letter.
The company did not disclose what the investigation found, but said that Barry “fully cooperated” with the probe.
“I appreciate the Board’s support and look forward to continuing to execute on our strategic vision," Barry said in a prepared statement.
Best Buy hasn't revealed what allegations were made in the anonymous letter, but The Wall Street Journal reported last month that it referenced Barry having an inappropriate romantic relationship with Karl Sanft, a former vice president at Best Buy.
Sanft told the The Star Tribune last week that he did not have an affair with Barry.
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“The Board supports the continued leadership of the company by Ms. Barry,” Best Buy said in a statement sent to The Journal. “To preserve the confidentiality and integrity of the process, the Board will have no further comment.”
Best Buy, which is based in Richfield, Minnesota, said it hired an outside law firm to investigate the allegations.
Barry, who became CEO of Best Buy Co. in June, replaced Hubert Joly after he stepped down and took on the role of executive chairman. Barry, 44, has worked at the company since 1999. She is Best Buy’s first female CEO in its more than 50-year history.
But Barry is not the first CEO to be investigated over an alleged relationship with a subordinate.
In 2012, Richard Schulze, who founded Best Buy in 1966 and is its largest shareholder, resigned as chairman and left the board after a company investigation found he knew about an inappropriate relationship then-CEO Brian Dunn had with a female staffer.
Many U.S. companies have adopted policies to address workplace romances, even before the #MeToo movement stirred a national conversation surrounding sexual misconduct.
In November, McDonald's fired CEO Steve Easterbrook after he violated company policy by having a "consensual" relationship with an employee.
Contributing: Kelly Tyko, USA TODAY