Best Buy has named Corie Barry the retailer’s new chief executive officer, effective June 11. She will replace Hubert Joly, the company’s current chairman and CEO, who will become executive chairman of the board.
According to the company, the changes reflect the retailer’s ongoing succession planning process and are designed to provide leadership continuity as the company continues to execute its strategic growth initiatives.
Barry joined Best Buy in 1999 and has held a variety of financial and operational roles within the organization, both in the field and at the corporate campus. She became CFO in 2016 and, prior to that, served as the company’s chief strategic growth officer. She has also served as svp/domestic finance and as the interim leader of Best Buy’s services organization.
“I am deeply honored to have been selected as Best Buy’s next CEO and look forward to working closely with Hubert, our board, and the exceptional Best Buy family to continue the momentum we have been able to achieve,” she said. “Today’s technology and consumer landscape create tremendous opportunities for Best Buy to further expand and deepen relationships with our customers and employees while continuing to deliver shareholder value.”
As part of the transition, Best Buy announced an additional change to its leadership team, also effective on June 11. Mike Mohan, current U.S. chief operating officer, will be promoted to president and chief operating officer. The company will conduct an internal and external search for a new CFO.