Best Buy said on Friday that its board was investigating allegations of misconduct by its chief executive, Corie Barry, after receiving an anonymous letter. The company is reportedly investigating whether Barry had an “inappropriate” relationship with another of its executives.
Before Mr. Barry took over as Best Buy’s chief executive last June, ms. said she had been in a relationship with Karl Sanft, the company’s former senior vice-president.
Best Buy declined to comment, saying in a statement:
“Best Buy takes allegations of misconduct very seriously. Upon receipt of an anonymous letter containing allegations against the CEO, the Board’s Audit Committee immediately engaged an external law firm, Sidley Austin LLP, for an independent confidential review. We encourage the authors of the letters to stand up and assist in the review process. We will not comment further until the review is completed. ”
In a written statement, Mr Barry said: “The Board will have my full cooperation and support in conducting this review and I look forward to a resolution in the near future.” ”
Best Buy closed up 1.1 percent at $89.94 on Friday, down nearly 1 percent after the session.