Looking for a great deal?
Get ALL THREE of our new thank-you gifts when you donate $120.
This is a limited time offer – so act soon!
TEXT OF STORY
SCOTT JAGOW: Being the CEO of a huge corporation is surely a stressful job, but all in all, it’s not such a bad gig. Your company can do poorly, your stock can tank, and you’ll still probably wind up with hundreds of millions of dollars. This morning, Home Depot’s CEO Bob Nardelli resigned after six years on the job. He’ll get a lot of money, but the company has no problem with him leaving. Dan Grech tells us why Nardelli was in trouble from the beginning.
When he was brought in six years ago to head Home Depot, he promised to shake things up.
Retail expert Howard Davidowitz says since then, Home Depot’s has been losing to its main rival, Lowe’s.
HOWARD DAVIDOWITZ: Lowe’s has just beaten their brains out on the same playing field. Who’s accountable? It’s the CEO. It’s Ray Nardelli.
Davidowitz says it didn’t help that Nardelli was one of the country’s best paid chief executives.
DAVIDOWITZ: There’s been an outrage out there. His compensation has no relation to his negative performance, and ultimately he had to go.
Nardelli is getting paid handsomely on the way out as well. His separation package is worth $210 million.
In New York, I’m Dan Grech for Marketplace.
JAGOW: Investors seem to like Nardelli’s departure. Home Depot’s stock shot up three percent this morning.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.