Business

Best Buy opens investigation into allegations of misconduct by CEO

Posted January 17, 2020 4:43 p.m. EST

— Best Buy is investigating allegations of misconduct against its CEO Corie Barry, a company spokesperson said on Friday.

The board launched the review after receiving a letter containing the allegations, the spokesperson said.

"Best Buy takes allegations of misconduct very seriously," the spokesman said in an emailed statement to CNN Business. "Upon the receipt of an anonymous letter containing allegations against our CEO, the Audit Committee of the Board immediately retained outside counsel, Sidley Austin LLP, to conduct an independent review that is 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 spokesperson did not detail what allegations were made in the letter.

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."

The Wall Street Journal, which reviewed the letter, reported the letter alleged that Barry had an inappropriate romantic relationship with a fellow executive before she took over as CEO last June.

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