Find out why Best Buy’s board is investigating its CEO

Find out why Best Buy’s board is investigating its CEO
Facade of Best Buy electronics retail store on Santana Row in the Silicon Valley, San Jose, California, January 3, 2020. (Smith Collection/Gado/Getty Images)

RICHFIELD, Minn. — Allegations of an inappropriate romantic relationship with a colleague and one-time boss have prompted a formal inquiry into Best Buy Chief Executive Officer Corie Barry’s conduct.

According to The Wall Street Journal, an anonymous letter dated Dec. 7 spawned the investigation by the company’s board. The letter alleges Barry conducted a romantic relationship with former Best Buy Senior Vice President Karl Sanft for several years.

A company spokesman told the WSJ the electronics retailer “takes allegations of misconduct very seriously” and encouraged the letter writer to “come forward and be part of that confidential process.”

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According to Minneapolis’ Star Tribune, the letter actually has multiple authors, who describe themselves as a group of employees hailing from several states whose tenure with the company ranges from seven to 25 years.

The letter requests either Barry’s resignation or her firing by the board, the newspaper reported.

In a statement issued to the WSJ, Barry said, “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, 44, was named CEO in June 2019, succeeding Hubert Joly who still serves as Best Buy’s executive chairman.

Snaft exited the company in early 2019, and currently serves as chief operating officer for 24 Hour Fitness Worldwide Inc.

According to the WSJ, both Barry and Snaft joined Best Buy about 20 years ago. The company is based in Richfield, Minn.

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