Best Buy Co. said it has concluded a board-led investigation into Chief Executive Corie Barry and has decided to keep her in her role atop the electronics retailer.
The company had hired an outside law firm to investigate allegations brought to the board in December that Ms. Barry had an inappropriate romantic relationship with a fellow former executive before she took over as CEO last June.
Best Buy didn’t disclose the findings of the investigation and a spokesman declined to provide details. On Wednesday the company said Ms. Barry cooperated with the review and it has now concluded.
“The Board supports the continued leadership of the company by Ms. Barry,” Best Buy said in a statement. “To preserve the confidentiality and integrity of the process, the Board will have no further comment.”
“I appreciate the Board’s support,” Ms. Barry said in a statement. She didn’t address the allegations.
The allegations were sent to the board in an anonymous letter dated Dec. 7. The Wall Street Journal reviewed a copy of the letter in January.
Ms. Barry, 44 years old, is one of the youngest CEOs of an S&P 500 company and one of the few women. She succeeded Hubert Joly, who led a turnaround at the retailer and still serves as its executive chairman.
Mr. Joly’s predecessor as CEO resigned abruptly in April 2012 after the board opened an investigation into his personal conduct and an alleged inappropriate relationship with a Best Buy subordinate.
Write to Sarah Nassauer at sarah.nassauer@wsj.com
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