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Best Buy CEO under investigation for alleged inappropriate relationship

This Monday, May 22, 2017, file photo shows a Best Buy sign at a store in Hialeah, Fla. Photo: AP/Alan Diaz, File
This Monday, May 22, 2017, file photo shows a Best Buy sign at a store in Hialeah, Fla.

Updated: January 17, 2020 05:39 PM

The leader of Minnesota-based Best Buy is under investigation for an alleged inappropriate relationship.

A company statement said it received an anonymous letter containing the allegations against CEO Corie Barry, who took over as Best Buy's CEO in June 2019. Barry initially joined the company in 1999 and has held a variety of financial and operational roles in the company, including CFO in 2016, before becoming CEO.

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After receiving the letter, Best Buy said its audit committee of the board hired outside counsel, Sidley Austin, to conduct an independent review, which is still ongoing.

"We encourage the letter's author to come forward and be part of that confidential process. We will not comment further until the review is concluded," the company statement said,

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

The Wall Street Journal initially reported the investigation Friday.

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