Best Buy board clears CEO of misconduct allegations

(Reuters) – U.S. consumer electronics retailer Best Buy Co (N:) said on Tuesday its board had cleared Chief Executive Officer Corie Barry of misconduct allegations following an independent review.

The company earlier this month said its board was conducting a review on allegations of misconduct against Barry after receiving an anonymous letter.

“Ms. Barry fully cooperated with the review, which has now concluded. The Board supports the continued leadership of the company by Ms. Barry,” the company said.

Best Buy, which retained legal counsel Sidley Austin LLP to conduct an independent review, said the board will not comment further on the matter.

“I appreciate the Board’s support and look forward to continuing to execute on our strategic vision,” Barry said in a statement.

Best Buy had not revealed the contents of the letter against Barry. The Wall Street Journal reported that the letter, dated Dec. 7, claimed that Barry had a romantic relationship for years with former Best Buy senior executive Karl Sanft.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.