Best Buy backs CEO after review into misconduct allegations

Best Buy chief executive Corie Barry is staying put.

The retailer's board of directors announced that it has concluded its investigation into an anonymous allegation that Barry, prior to her becoming CEO, had a inappropriate relationship with a former Best Buy executive. In a short statement, the board said it supports her remaining as chief executive.

“The Board takes allegations of misconduct seriously regardless of who is the subject,” the statement read. “When the Board received an anonymous letter regarding Corie Barry, the Audit Committee immediately retained outside legal counsel, Sidley Austin LLP, to conduct an independent review. Ms. Barry fully cooperated with the review, which has now concluded. The Board supports the continued leadership of the Company by Ms. Barry.”

Barry also released a statement:

“I appreciate the Board’s support and look forward to continuing to execute on our strategic vision to Build the New Blue: Chapter Two,” she said.

Best Buy has not revealed the contents of the letter, which was also sent to several to several news organizations, including the Star Tribune. The letter writers said Barry should resign or the board should fire her.