Electronics retailer Best Buy is to promote CFO Corie Barry to CEO, making her the chain’s first female chief executive in its 57-year history.
Barry, whose official title is chief financial and strategic transformation officer, will replace current Chairman and CEO Hubert Joly at the company’s June 11 annual meeting of shareholders, according to a company press release. Joly will take over the newly created position of executive chairman.
Corie Barry
“This was a unanimous and enthusiastic decision on the part of our board,” said Joly in a prepared statement. “I am personally very, very excited. I’ve known Corie for almost seven years, and we’ve worked very closely together, particularly in the last three years. She knows the place, she’s highly respected, and, importantly, she’s a terrific leader.”
Barry is a 20-year veteran of the company and worked with Joly on its recent turnaround.
Hubert Joly
“What’s been very helpful is that in the last couple years, we’ve gotten very clear on our purpose — and that is to enrich people’s lives with technology,” Barry said in the statement. “That purpose is not about what we think is best; it is about what our customers really need and want, in order to make their lives better. We feel strongly that when you really address the needs of the consumer and do so in a unique way, with unique value propositions — like the services we bring to market, the incredibly broad array of products that we have, and that we’re consistently priced competitively — with all those assets at our disposal, you have a unique place in the market.”
By Edmund Mander
Director, Editor-In-Chief/SCT
