Does anyone know what happened? Need the story in quick format please. Thanks.
2007-01-16 08:00:15 · 3 answers · asked by ashlee85 1 in Business & Finance ➔ Corporations
The CEO in question was Bob Nardelli. The official explanation was that he left his position voluntarily, with a $210 million golden parachute. As a former Home Depot employee, I know that there were, probably still are, several lawsuits brought against Mr. Nardelli and several other corporate officers by shareholder groups, who were angered not only by his outrageous pay package, but also by what could be described as corporate malfeasance.
To find out more about this, just google Bob Nardelli, and look for information dated 1/3/2007 and after. That was the date he announced his departure from the company.
2007-01-16 08:19:49 · answer #1 · answered by MathBioMajor 7 · 0⤊ 0⤋
Home Depot Ceo Fired
2016-11-16 17:49:41 · answer #2 · answered by maglio 4 · 0⤊ 0⤋
Their stock price has done poorly over the last couple years, while Lowe's, their biggest competitor, has seen their stock price soar.
So they were paying the guy $100 million per year to have the company stock perform poorly. Not a good idea, so they gave him the boot. And another $135 million to go away. Ouch.
That's my Reader's Digest version of these events.
2007-01-16 08:05:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋