World News

Best Buy board clears CEO of misconduct allegations

(Reuters) – U.S. consumer electronics retailer Best Buy Co <BBY.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.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila and Shinjini Ganguli)