Best Buy announced Monday that Corie Barry will serve as the company’s next chief executive officer, effective on June 11. She will be the first female CEO of the company.
Barry, currently the company’s chief financial and strategic transformation officer, will be replacing Hubert Joly, who will be stepping into the newly created role of executive chairman of the board. Joining Best Buy as CEO in 2012, Joly has been credited with helping turn the chain around — and he has been ranked atop several best CEO lists over the past couple of years.
The company said that it has made this move to “provide leadership continuity as the company continues to execute its strategic growth initiatives.”
“I am so proud of the strategic, financial and cultural transformation we have achieved,” Joly said in a statement, “and with Best Buy well positioned for continued growth well into the future, now is the right time to begin a leadership transition.”
Barry has been with Best Buy since 1999 and became CFO in 2016. According to the company, her responsibilities include “strategic transformation and growth, digital and technology, global finance, investor relations, enterprise risk and compliance, integration management, and Best Buy Health, which includes GreatCall.”
“Today’s technology and consumer landscape creates tremendous opportunities for Best Buy to further expand and deepen relationships with our customers and employees, while continuing to deliver shareholder value,” Barry said in a statement.
The company also announced that, starting on June 11, Mike Mohan, current U.S. chief operating officer, will be promoted to president and chief operating officer.
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