Best Buy CEO has had a lot on her shoulders, especially during these unprecedented times. Best Buy CEO Corie Barry has been effectively managing 1200+ stores all across America and Canada.
The workload is immense considering how many people have turned to Best Buy, the grocery giant to purchase products and services while working from home.
Corie Barry recently became CEO in June 2019 after the esteemed Hubert Joly retired. Best Buy CEO has not had a lot of time on her hands to reflect upon how the pandemic changed her leadership abilities since she was busy dealing with the dealings of the grocery giant. However, in an interview with Yahoo Finance at the All Markets Summit Best Buy CEO discussed how she was able to manage the company at such a crucial time.
Corie Barry’s leadership is a prime example of ‘You can’t defeat the person who doesn’t give up’. She believes her time so far as CEO of Best Buy has enabled her in realizing how it is necessary to create opportunities for other exceptional leaders so they can be successful. Moreover, managing an organization as huge as Best Buy requires the CEO to be prompt with decisions. Staying up to date and working with the changing market conditions is never easy but Best Buy CEO has mastered this art. She is a staunch believer in teamwork. With a secure sense of leadership, Corie Barry believes working together as a team has allowed Best Buy to achieve both its short term and long term goals, rather quickly.
Corie Barry realizes how the coronavirus situation has turned lives upside down for several people, including the staff at Best Buy. The retailer has been extremely understanding and accommodating during this time. It has not been about just working and going home. Corie Barry made sure the staff is provided the best medical and therapeutic facilities. Empathy and kindness are not traits you usually hear a retailer talk about but when an individual’s personal and professional lives have been intertwined like this Best Buy felt the need to adopt such measures.
Corie Barry’s leadership has been commended by people all over the country. Her exceptional leadership has been displayed through her efforts of guiding Best Buy to the patch of success and keeping in mind the well being of both consumers and staff members simultaneously.
Best Buy had to downsize and let go of 51,000 members as stores were shut and only a few services were being offered. This was one of the toughest decisions Corie Barry ever made. She has been loved and respected by the entire staff since she made her way to the top through her career of 20 years which featured both ups and downs. Eventually, she was able to climb up the ladder of success. This decision did lead to the perseverance of the financials of Best Buy. Corie Barry herself reduced her salary to half. Executives under Cory Barry reduced their pay by 20%. The Best Buy board also decided to receive half their salary, in support of the decisions made by the CEO.
Corie Barry has successfully paid all the dividends. Two-thirds of the workers downsized have been called back to work since the economic conditions improved after the lockdown was lifted. When stores began opening Best Buy planned to execute a clever appointment-only service for customers which would allow them to cherish the true shopping experience while preventing them from contracting the coronavirus. Best Buy under the leadership of Corie Barry has raised the minimum wage for their workers, beginning at $15 for an hour. Almost 800 Best Buy stores have opened their doors for the consumers again!