Best Buy CEO Corie Barry is the subject of an independent investigation launched after an allegation she was involved in an inappropriate relationship.
The Wall Street Journal reported on Friday that prior to being appointed CEO, Barry had allegedly been involved in a romantic relationship "for years" with an executive who has since left the company.
Best Buy's Board of Directors was made aware of the allegations via an anonymous letter.
In a statement to BMTN, a Best Buy spokesperson confirmed that they have retained outside counsel to investigate the allegations.
"Best Buy takes allegations of misconduct very seriously," the spokesperson said, "Upon the receipt of an anonymous letter containing allegations against our CEO, the Audit Committee of the Board immediately retained outside counsel, Sidley Austin LLP, to conduct an independent review that is ongoing.
"We encourage the letter’s author to come forward and be part of that confidential process. We will not comment further until the review is concluded."
A statement from Barry was also issued, saying: "The Board has my full cooperation and support as it undertakes this review, and I look forward to its resolution in the near term."
Barry became Best Buy CEO in 2019, taking over the reins from Hubert Joly, and in doing so became one of the youngest CEOs of a Fortune 500 company. She has been with the company for around 20 years.