But that means he needs to be in charge, surrounded by the type of team he succeeded with at Starbucks.
I can't get past it. Why hire Gillett in the first place and then add to his job description if you did not have plans for him to become Best Buy CEO when the gig came available?
If I were a BBY long taking a drubbing, particularly on a sizable position, I would call for a shareholder mutiny and ask this inept board of directors that question along with many off-color variations of it.
The time to play nice is long gone. Best Buy has yet to pass the point of no return. But it needs to fire Joly and let Gillett drive it like he stole it by the company's next earnings report. The board might even be able to leverage some holiday quarter momentum as it explains what would hopefully be its final fit and start.Follow @rocco_thestreet -- Written by Rocco Pendola in Santa Monica, Calif.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV