His resignation was effective yesterday according to the press release out of Home Depot. The stock price is doing a pre-opening happy dance, initially popping to around $42.50 on the news, now up to around $41.50 (from yesterday’s close of $40.16). He’s succeeded by HD vice chairman Frank Blake. But the supergenerously compensated Nardelli, who agreed to a one year non-compete with HD, naturally isn’t parting empty handed — leaving with what he’s entitled to get under his pre-existing employment contract from 2000. He’ll receive a gargantuan package "currently valued at approximately $210 million (including amounts which have previously been earned or vested)". According to the press release:
Tags: Home Depot
