Best Buy promotes CFO Corie Barry to CEO role

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Best Buy promotes CFO Corie Barry to CEO role

FILE PHOTO: A Best Buy store is seen in Los Angeles, California, U.S., March 13, 2017. REUTERS/Lucy Nicholson

(Reuters) – Best Buy Co Inc on Monday named Chief Financial Officer Corie Barry as the company’s next Chief Executive Officer, the first woman to lead the consumer electronics retailer in its 53-year history.

She would become Best Buy’s fifth CEO after taking over from Hubert Joly, who steps aside in June to become executive chairman.

Joly has led Best Buy since 2012, parrying away competition from Amazon.com and other online retailers by bolstering the company’s own website and tech support services.

Barry joined Best Buy in 1999 and has held several financial and operational roles till she became the CFO in 2016.

The company’s shares fell about 1 percent in premarket trading.

(This story has been refiled to correct the name in headline to “Corie” from “Corrie”)

Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber