New Best Buy CEO: Corie Barry To Lead Tech Retailer After 20 Years Of Service

Best Buy (BEST) has named Corie Barry as its new CEO, replacing Hubert Joly, who will become executive chairman for the company. Barry is the fifth CEO in the company’s 53-year history.

Barry, a Minnesota native, will lead the company after 20 years of service, most recently serving as chief financial and strategic transformation officer. She has been a part of Best Buy’s executive team for the last four years.

Barry joined Best Buy in 1999 in a senior financial analyst position. She has held a number of roles with the company both in the field and at Best Buy’s corporate office. She became CFO in 2016 and held the position of chief growth officer prior to the appointment. Other positions that Barry has held include senior vice president of domestic finance and interim president of Best Buy’s services organization.

“Corie is a wonderful human being and a very human leader who can build connections with a variety of leaders and individuals across the company,” Joly said. “This combination of technical skills and great human leadership capabilities and humanity is something I’ve long admired about Corie and gives me enormous hope in the future.”

Barry attended the College of St. Benedict on a scholarship. After graduation, Barry went on to work as an auditor at Deloitte & Touche. She joined Best Buy two years later.

Barry has been married to her husband, Marty, for 19 years and has two children.

Along with Barry’s appointment to CEO, Mike Hohan has been promoted to president and COO. He has been with Best Buy since 2004, previously serving as U.S. chief operation officer and chief merchandising officer.

“Continuity is the name of the game here,” Barry 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.”

Shares of Best Buy stock were down 2.84 percent as of 1:40 p.m. ET on Tuesday.