Best Buy names Corie Barry as its new CEO, Hubert Joly to become board’s executive chairman

Best Buy on Monday said Corie Barry, currently the company’s chief financial and strategic transformation officer, will become its new chief executive officer, effective June 11, making her the first woman ever to serve in this role.

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Hubert Joly, who is Best Buy’s current board chairman and CEO, will become executive chairman of the board, a newly created position, the company said.

It said the changes are part of the retailer’s board’s « ongoing succession planning process » and are meant « to provide leadership continuity. » Barry will also join the board of directors, which will now expand to 13 directors, Best Buy said.

« Corie has played a critical role in developing and executing the proven growth strategy in place today, and I am confident she has the vision, skills, experience and leadership capabilities necessary to be our CEO, » Joly said in a statement.

Best Buy shares were last down a little more than 1 percent in pre-market trading following the news.

This is breaking news. Please check back for updates.

Source: CNBC

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