“I appreciate the Board’s support and look forward to continuing to execute on our strategic vision," Barry said in a prepared statement. Best Buy hasn't revealed what allegations were made in the anonymous letter, but The Wall Street Journal reported last month that it referenced Barry having an inappropriate romantic relationship with Karl Sanft, a former vice president at Best Buy.
Sanft told the The Star Tribune last week that he did not have an affair with Barry. Best Buy, which is based in Richfield, Minnesota, said it hired an outside law firm to investigate the allegations and declined to comment further.
Barry, who became CEO of Best Buy Co. in June, replaced Hubert Joly after he stepped down and took on the role of executive chairman. Barry, 44, has worked at the company since 1999. She is Best Buy’s first female CEO in its more than 50-year history.