Stock Research Nyses Home Depot Rocks Investors With Ceo Resignation Can Corporate Culture Survive
Our stock research has come up with an interesting play. As you know, Home Depot through its Board of Directors forced the resignation of General Electric trained CEO, Robert Nardelli, who had only been with Home Depot a couple of years. Somehow, Nardelli managed to get the Board to give him a $200 million severance package, which has Home Depot shareholders up in arms. How did a long-time General Electric guy like Nardelli screw up so bad that he was forced to resign, and not because he didnt deliver the numbers? Our stock research we believe has provided the answer.
Many CEOs have what is called the cult of personality. They make the corporation about them. Sumner Redstone of Viacom is like this, as was Harold Geneen of ITT in the 1960s. Certainly Charles Revson, creator of Revlon was this way also. Nobody expected Nardelli to be the imperial CEO that he became very quickly once he was given the reins to Home Depot.
Theres an expression that people like to use. Its called, If it aint broke, dont fix it concept. Nardelli violated this cardinal rule of...
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