US retailer Best Buy has appointed Chris Barry, the corporation’s chief financial and strategic transformation officer, as its new CEO, making her the first female to serve in this role in the corporation’s history.
Barry, who’ll take on the role effective June 11, will replace Hubert Joly, the business’s current chairman and chief executive. She’ll also join the board of directors, which will expand the number to 13.
Best Buy says that John has led the company through its successful, customer-focused Renew Blue transformation, which delivered enhanced customer satisfaction, market share gains, comparable sales growth and improved margins while reaching $1.4 billion in cost reductions and efficiencies to finance investments at Best Buy’s organic growth.
As executive chairman, John will continue to direct the board of supervisors while advising and encouraging the CEO on critical issues, such as strategy, capability building, M&A and outside relationships.
Furthermore, he’s expected to assume specific responsibilities at the request of the CEO, in areas like government affairs, community relations and leadership development.
Barry, who joined Best Buy in 1999, said she is deeply honoured to have been appointed as the organisation’s new CEO, and that she looks forward to continuing the corporation’s momentum.