Best Buy investigates CEO Corie Barry for alleged misconduct

Daniel Fowler
January 20, 2020

The chief executive of Best Buy says she is cooperating with a probe into her alleged romance with a company VP.

The action came after the board received an anonymous letter signed "We are Best Buy" that purported to represent "a group of employees".

A company spokesman told the Wall Street Journal and CNBC that it was investigating allegations that Barry had an inappropriately romantic relationship with another of the company's executives - former senior vice president Karl Sanft - before becoming CEO.

"Best Buy takes allegations of misconduct very seriously", the company said in a statement to The Associated Press.

Barry said in a statement that "The Board has my full cooperation and support as it undertakes this review, and I look forward to its resolution in the near term".

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Barry, who has also been with Best Buy for 20 years, was promoted to CEO from the role of CFO in June 2019.

Best Buy said on Friday the audit committee of the board has retained outside counsel, Sidley Austin LLP, to conduct the review against Ms Barry. "We will not comment further on the assessment". Barry, 44, has worked at the company since 1999, most recently as chief financial officer.

However, Best Buy declined to reveal the details of the leader. Sanft on the other hand was the senior vice president of the USA retail operations till March 2019.

Sanft at one time had been Barry's boss, according to the letter. The news of the independent probe was confirmed by a company's spokesperson. Its former chief executive Brian Dunn resigned in 2012 during an investigation into allegations of personal misconduct. The stock dipped after the Journal first reported on the board's investigation.

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