Tuesday, January 09, 2007

Home Depot to Review Pay

Published: January 9, 2007
ATLANTA, Jan. 8 (AP) — Home Depot, the home improvement store chain, said Monday that its board would require that two-thirds of its independent directors approve any compensation granted to Robert L. Nardelli, the former chairman and chief executive.
The decision, made last Thursday but not disclosed until Monday in a regulatory filing, follows an uproar over Mr. Nardelli’s pay.
Some shareholders have been pushing Home Depot to allow them a say in compensation matters.
Mr. Nardelli resigned last week after six years with the company, which is based in Atlanta. The company said at the time that Mr. Nardelli would receive a $210 million severance package

No comments: