Inc.'s board is launching an investigation of CEO Corie Barry for an alleged inappropriate romantic relationship with another executive that is said to have occurred before she took the top spot previous year.
The action came after the board received an anonymous letter signed "We are Best Buy" that purported to represent "a group of employees". "We encourage the author of the letter to participate in this confidential process".
An anonymous December 7 letter sent to the company's board alleges that Barry had a romantic relationship with former senior VP Karl Sanft before she became CEO, The Wall Street Journal reported Friday afternoon.
Best Buy told the publication that it has hired the law firm Sidley Austin LLP to conduct an independent 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", Ms Barry said in the company statement. The letter alleges the connection passed off prior to she took over as CEO ultimate 12 months, the Journal stated.
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The company said it would not comment further until the investigation was concluded.
Both Ms. Barry and Mr. Sanft joined Best Buy about 20 years ago and rose through the leadership ranks. Barry went on to become the head of finance in 2016 and then the chief executive officer in 2019.
Best Buy declined to reveal the allegations but The Wall Street Journal, which first reported on the probe Friday, said it had seen the letter, which accused Barry of having an inappropriate romantic relationship with another executive.
Barry reportedly said in a statement that she would cooperate with the investigation.
The letter writers said Barry should resign or the board should fire her.