Best Buy has said it will not be taking any action following the conclusion of an investigation into allegations made against its CEO Corie Barry.
An anonymous letter submitted to the board at the Richfield-based retailer alleged that Barry had been involved in an inappropriate romantic relationship with a fellow executive, who has since left the company.
The company said in a statement on Tuesday that the independent review of the allegations has concluded, and it has pledged its support of Barry.
"The Board takes allegations of misconduct seriously regardless of who is the subject," the statement said.
"When the Board received an anonymous letter regarding Corie Barry, the Audit Committee immediately retained outside legal counsel, Sidley Austin LLP, to conduct an independent review.
"Ms. Barry fully cooperated with the review, which has now concluded. The Board supports the continued leadership of the Company by Ms. Barry."
The executive Barry was alleged to have had the relationship with has subsequently, telling the Star Tribune that the anonymous allegation was false.
Barry issued this comment in response to the investigation's conclusion: "I appreciate the Board’s support and look forward to continuing to execute on our strategic vision to Build the New Blue: Chapter Two."