The world's largest home-improvement retailer, Home Depot Inc. (NYSE:HD), has struggled with apparent sales slowdowns and waning sales forecasts in the middle of a housing bust (of sorts). As a result, HD investor Ralph Whitworth wants independent directors to study "strategic alternatives" and evaluate chief executive Robert Nardelli's performance.Nardelli has been busted up pretty good recently for taking home lavish amounts of pay at the same time Home Depot's prospects have dwindled in the eyes of many investors. Combine that with gobs of other bad news on the Home Depot front and it comes as no surprise that an independent review of, well, just about everything on the Home Depot executive ladder was called for.
Whitworth is known for pushing changes in companies he invests in, similar to Kirk Kerkorian and his stake in General Motors Corp. (NYSE:GM) among other investments. Whitworth plans to submit a proposal for Home Depot's next shareholder meeting and may even nominate directors at that meeting. According to reports, Home Depot will oppose the plan and meet with Whitworth next year. Get the plastic pitchforks and baby clothes ready...
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Reader Comments (Page 1 of 1)
12-22-2006 @ 11:02AM
MARSHELL RIEF said...
HOME DEPOT IS BUYING UP LOCAL COMPETITORS AND THEN NOT GIVING ANY HELP OR SERVICE TO THE CONTRACTORS WHO SHOPPED THERE. KITCHEN CABINETS IS ONE ITEM I HAVE FOUND WHERE HOME DEPOT TAKES WEEKS AND SOMETIMES A MONTH OR TWO WHERE WE COULD GET LIKE OR BETTER QUILITY AT COMPEDITIVE PRICES IN A WEEK TO 10 DAYS. HOME DEPOT WILL GO THE WAY OF HOME BASE AND OTHER SUPPLY STORES IF THEY FORGET ABOUT THE CUSTOMER SERVICE. GOOD BYE STOCK.
1-02-2007 @ 10:30PM
Nardellie neimeses said...
Nardelli is penney sound and a pound fullish. He doesn't know home improvement sales. He doesn't know anything about what takes to give customer service except how to put $$$ into his pocket while he can reap all the benefits for himself and not any contributions towards his employees who help give him that astonommical sallary for WHAT???
1-02-2007 @ 10:59PM
Nardellie neimeses said...
Nardelli is penney sound and a pound fullish. He doesn't know home improvement sales. He doesn't know anything about what takes to give customer service except how to put $$$ into his pocket while he can reap all the benefits for himself and not any contributions towards his employees who help give him that astonommical sallary for WHAT???