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Nardelli named Home Depot ceo

ATLANTA -The Home Depot has announced the appointment of Robert Nardelli as president and ceo and a member of the company's board of directors, effective immediately.

Arthur Blank, who is the current president and ceo, will become co-chairman along with Bernard Marcus.

Nardelli joins the company from General Electric, where he has served since 1995 as president and ceo of GE Power Systems, a $15 billion division.

Starting his career at GE in 1971, Nardelli was also a senior vp of General Electric Company and a member of the board of directors of GE Capital Corp. He will join Blank, Marcus, Kenneth Langone and Milledge Hart III on the company's executive committee.

"We have known Bob for many years and we are delighted to welcome him to Home Depot," said Marcus, who co-founded the Home Depot with Blank in 1979. "Bob's experience at GE speaks for itself in terms of the talent, vision and expertise he contributed to the organization."

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