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Best & Worst of 2007: Best CEO departure of 2007

This post was part of AOL Money & Finance's Best & Worst of 2007. Voting has now closed and, in a close race, readers have chosen Chuck Prince as the best CEO departure of the year. Let us know in the comments if you are pleased with this result.

Departing CEOs When looking back at 2007, there were some larger-than-life CEO departures that semi-rocked the business world and brought some investors to the realization of over-the-top compensation yet again. Let's look at a few and then you can decide the winner. Sound good?

First up comes Bill Ford, Jr., from the automotive industry. Under Ford's leadership, Ford Motor Co. (NYSE: F) lost its way in terms of correctly forecasting what kind of vehicles customers actually wanted, in addition to becoming horribly leveraged. As soon as gas prices began shooting up, Ford Motor started spiraling down. Long-time Boeing Co. (NYSE: BA) executive Alan Mulally was brought in to replace Ford as the automaker's CEO just in the nick of time. Ford Motor's expected profitability date with Ford now gone: 2009.

How about Bob Nardelli, formerly CEO of Home Depot Inc. (NYSE: HD)? Nardelli made global headlines by making tens of millions while leading Home Depot shares to the basement and apparently making all kinds of bad decisions that finally led to his ouster this year. On top of that, his severance package made a Brad Pitt paycheck seem like pennies, and Home Depot shareholders paid for it. Did Home Depot stakeholders get a voice in this corporate travesty? A small one, perhaps.

Continue reading Best & Worst of 2007: Best CEO departure of 2007

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Last updated: November 22, 2008: 01:27 PM

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