Best Buy starts investigation into CEO's personal conduct

Best Buy starts investigation into CEO's personal conduct

U.S. consumer electronics retailer Best Buy Co said on Friday its board was conducting an independent review on allegations of misconduct against Chief Executive Officer Corie Barry after receiving an anonymous letter.

FILE PHOTO: A sign marks a Best Buy store in Salem
FILE PHOTO: A sign marks a Best Buy store in Salem, New Hampshire, U.S., November 25, 2019. REUTERS/Brian Snyder

REUTERS: U.S. consumer electronics retailer Best Buy Co said on Friday its board was conducting an independent review on allegations of misconduct against Chief Executive Officer Corie Barry after receiving an anonymous letter.

The company declined to share the contents of the letter. In a email statement to Reuters, its spokesperson said, "We encourage the letter's author to come forward and be part of that confidential process."

The Wall Street Journal reported that the letter, dated Dec. 7, claimed Barry had a romantic relationship for years with former Best Buy Senior Vice President Karl Sanft.

Best Buy said the audit committee of the board has retained outside counsel, Sidley Austin LLP, to conduct the review.

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

(Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur)

Source: Reuters

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