Corie Barry has officially taken the helm of Best Buy, becoming the fifth CEO in the company’s 53-year history. She replaces Hubert Joly, who led the company through a successful turnaround over the past seven years and will now become executive chairman as part of a planned leadership transition.
Barry has been with Best Buy for 20 years, most recently serving as the company’s chief financial and strategic transformation officer. She has been a member of the executive team for the past four years, playing a critical role in developing the company’s growth strategy.
“I love this company, and I mean it when I say that it feels like family,” she said. “The amount of humility I feel stepping into this chair is immense and, at the same time, it’s balanced with a true sense of excitement. I am proud of the work we are doing.”
As a member of the executive team, Barry worked closely with Joly to help set the vision for the future, which is anchored in the company’s purpose to enrich lives through technology. “She has the unique ability to articulate the vision for the future,” Joly said. “She is very strategic and, at the same time, because of her experience working at the company, she has the skills to see what it would take to transform the vision into action.”
As CEO, Barry will continue to work closely with the existing management team, including Mike Mohan, who is being promoted to president and chief operating officer as part of the leadership transition. He has been with the company since 2004, and he was the company’s chief merchandising officer prior to becoming U.S. chief operating officer last year.
“Continuity is the name of the game here,” Corie said. “We have the leadership team in place. We have a strategy in place that is roundly embraced, both internally and externally. It’s working, it has good momentum.”