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Home Depot Ceo Frank Blake Salary
April 14, 2007|By Bloomberg News
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ATLANTA — Ousted Home Depot Inc. Chief Executive Robert Nardelli accustomed absolute advantage account about $131 actor in 2006, a year in which the aggregation acquaint its first-ever accumulation decline.
The aggregate of Nardelli's advantage was included in the $210 actor he accustomed back he was affected out in January of this year, Home Depot said Friday in a authoritative filing that appear capacity of Nardelli's 2006 pay for the aboriginal time.
"I anticipate it's a joke," said Walter Todd, who helps administer $850 actor Greenwood Capital Associates LLC in South Carolina.
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"It's ridiculous. I'm of the assessment that nobody's account that affectionate of money."
Shares of Home Depot, the world's better home-improvement retailer, fell 8 percent during Nardelli's six-year tenure.
Nardelli accustomed a severance amalgamation admired at $210 actor back he was replaced in aboriginal January amidst broker criticism about the company's action and his pay.
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Home Depot said Nardelli's advantage included at atomic $95 actor in severance-related compensation, a bacon of $2.33 actor and a $6 actor bonus.
He additionally accustomed $16.3 actor in belted banal and $6.39 actor in options.
His claimed use of the aggregation even was admired at $168,835, and he accustomed company-provided aegis admired at $648,167, according to the filing.
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Frank Blake, who took over as CEO, was paid $6.34 actor aftermost year, including a bacon of $758,384. He could accept $8.9 actor this year if he meets the board's accumulation and banal achievement goals. His arrangement does not accommodate a severance package.
The company, which has about 2,150 retail stores, said accumulation fell 1.3 percent aftermost year and has anticipation a abatement in 2007 as the crumbling apartment bazaar curbs adjustment projects and some customer spending.
Blake added activist actor David Batchelder to the lath in February in barter for his firm, Relational Investors LLC, bottomward a challenge for Home Depot actor votes or choice of its own candidates.
:fill(transparent,1)/GettyImages-104332244-5750a1685f9b5892e87a61d8.jpg "Frank Blake - Alchetron, The Free Social Encyclopedia")
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Batchelder and Relational Investors co-founder Ralph Whitworth were amid several investors who criticized Nardelli's pay.
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