Nardelli, with $210 million, exits Home Depot
January 3, 2007,
Atlanta– The board of directors of The Home Depot reached an agreement with chairman, president, and ceo Robert Nardelli to resign effective yesterday, Jan. 2.
Frank Blake, the current vice chairman and executive vp, succeeds Nardelli, effective immediately as chairman and ceo, the $81.5 billion home improvement retailer said. Blake joined Home Depot in 2002 from his post as deputy secretary for the U.S. Department of Energy; previously he was an executive at General Electric, as was Nardelli.
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