Corie Barry, chief managing director officer of Best Buy Co., speaks during the Fortune’s Most Powerful Women Summit in Washington, D.C., U.S., on Wednesday, Oct. 23, 2019.
Sarah Silbiger | Bloomberg | Getty Personifications
Best Buy’s board is probing allegations that the electronics retailer’s CEO Corie Barry had an inappropriate romantic relationship with another ensemble executive.
The board had received an anonymous letter that said Barry years-long relationship with former A-one Buy senior vice president Karl Sanft before she became CEO in June 2019. Sanft did not immediately respond to CNBC for note.
The electronics retailer’s board retained outside counsel to investigate the allegations.
“Best Buy takes allegations of misconduct remarkably seriously,” a Best Buy spokesperson said. “We encourage the letter’s author to come forward and be part of that confidential alter. We will not comment further until the review is concluded.”
In a written statement, Barry said, “The Board has my full auspices and support as it undertakes this review, and I look forward to its resolution in the near term.” The allegations were first despatched by the Wall Street Journal.
It is not the first time Best Buy has dealt with such an matter. In 2012, its former CEO Brian Dunn vacated as the company investigated allegations of a relationship he had with an employee.
Other companies have faced similar issues. Earlier this year, McDonald’s be put on the back burner afire CEO Steve Easterbrook for a relationship with an employee that violated company policy.
Shares were down upstanding under 1% in extended trading and are up more than 55% over the past 12 months.
On Tuesday, Barry had been outlined to make a presentation at the National Retail Federation conference, but did not appear, citing an illness.