Robert L. Nardelli (born May 17, 1948, in Old Forge, Pennsylvania) was appointed chairman and chief executive officer of Chrysler on August 5, 2007. For other uses, including the Chrysler Brand, see Chrysler (disambiguation). ...

Nardelli was chairman and CEO of The Home Depot from December 2000 to January 2007. Prior to that, he was one of the top four executives at General Electric. The Home Depot (NYSE: HD), headquartered in Atlanta, Georgia, is a big-box home improvement retailer that aims for both the do-it-yourself consumer and the professional in home improvement and construction. ... This article is about the American company. ...

Nardelli received his Bachelor of Science in business from Western Illinois University and earned an MBA from University of Louisville. This article does not cite any references or sources. ... Western Illinois University is a public university founded in 1899 as Western Illinois State Normal School. ... Master of Business Administration (MBA) is a tertiary degree in business management. ... The University of Louisville (also known as U of L) is a public, state-supported university located in Louisville, Kentucky, United States. ...

He joined GE in 1971 as an entry-level manufacturing engineer. By 1995, he had risen to president and CEO of GE Power Systems, also having the title of GE senior vice president. Nardelli was often known as "Little Jack", after his mentor Jack Welch, whom Nardelli had ambitions to succeed as CEO of GE. Ge may refer to: Gê, a group of indigenous Brazilian tribes and their Ge languages Ge (Cyrillic) (Г, г), a letter of the Cyrillic alphabet Ge with upturn (Ґ, ґ), a letter of the Ukrainian alphabet Nikolai Ge, a Russian painter Gē, an ancient Chinese dagger-axe Ge (genus), a genus of butterflies Also... Jack Welch as CEO of GE John Francis Jack Welch, Jr. ...

When Jack Welch retired as chairman and CEO of GE, a lengthy and well-publicized succession planning saga ensued. Nardelli competed with James McNerney and Jeff Immelt to succeed Welch. With Immelt winning the three-way race, Nardelli and McNerney left GE (as was Welch's plan). About 10 minutes after Welch let him go, Nardelli received a job offer from Ken Langone who at the time was on the boards of both GE and Home Depot. Jack Welch as CEO of GE John Francis Jack Welch, Jr. ... This article or section does not cite any references or sources. ... Walter James Jim McNerney, Jr. ... Jeffrey R. Immelt (born February 19, 1956) is the current chairman of the board and chief executive officer of General Electric. ... Kenneth Langone, co-founder of Home Depot, is a former director of the New York Stock Exchange. ... The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products. ...

Nardelli became CEO of The Home Depot in December 2000 despite having no retail experience. Using the "Six Sigma" management strategy from GE, he dramatically overhauled the company and replaced its freewheeling entrepreneurial culture. He changed the decentralized management structure, by eliminating and consolidating division executives. He also installed processes and streamlined operations, most notably implementing a computerized automated inventory system and centralizing supply orders at the Atlanta headquarters. The Home Depot (NYSE: HD), headquartered in Atlanta, Georgia, is a big-box home improvement retailer that aims for both the do-it-yourself consumer and the professional in home improvement and construction. ...

Nardelli was credited with doubling the sales of the chain and improving its competitive position. Revenue increased from $45.7 billion in 2000 to $81.5 billion in 2005, while profit rose from $2.6 billion to $5.8 billion. While this was a slower rate of growth than Home Depot had previously experienced (the company doubled in size every 4 years from 1979 to 2001), it must be noted that the high growth rates were largely due to rapid expansion. During Nardelli's tenure Home Depot stock was essentially steady, while competitor Lowe's stock doubled. Home Depot's market valuation declined 40 % during Nardelli's tenure ^[1] “Lowes” redirects here. ...

As the company was reaching its retail limit in the US, Nardelli came in to help the company transition into a mature business. Some have criticized him for not maintaining the growth that the company had previously experienced, pointing to his huge salary as a sign that he was actually supposed to bring new innovation to the company in order to help it maintain its historical growth. Others argue that without Nardelli's expertise, the company would not have had even the growth that did occur.

The company's stagnating share price, Nardelli's blunt, critical and autocratic management style turned off both employees and customers, and his $240 million compensation eventually earned the ire of investors. In 2006 questions about his leadership mounted, and Nardelli directed company's board to skip the company's annual meeting and forbid shareholders from speaking more than a minute using large digital timers. Criticism about his behavior at the meeting and showdown over his compensation package caused the board to oust him in January 2007 ^[2]. His severance package was estimated at $210 million. He was succeeded by The Home Depot vice chairman and executive vice president Frank Blake. Blake had served as Nardelli's deputy at both GE Power Systems and Home Depot. It is proposed that this article be deleted, because of the following concern: Crystal ball, user has created future months and dates before, and been told not to (See User Talk:Jose and Ricardo). ... Frank Blake was appointed chairman and CEO of The Home Depot in January 2007. ...

During his tenure at The Home Depot, Nardelli met President Bush at the White House in 2002 and was appointed to Bush's Council on Service and Civic Participation (although he is no longer a member)^[3]. Nardelli also hosted a garden reception/fundraiser for Bush at his Atlanta home on May 20, 2004^[4] George Walker Bush (born July 6, 1946) is the 43rd and current President of the United States, inaugurated on January 20, 2001. ... The Presidents Council on Service and Civic Participation was created by President George W. Bush in January 2003 by executive order. ... is the 140th day of the year (141st in leap years) in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...

Nardelli was also briefly on the Board of Directors for Coca Cola starting in 2001. Coca-Cola is a cola (a type of carbonated soft drink) sold in stores, restaurants and vending machines in more than 200 countries. ...

His current annual salary at Chrysler is $1. As Chrysler LLC is a private firm and therefore has no public disclosure requirements for executive compensation, the amount and structure of his incentive and other compensation is unknown. ^[5]

See Also

• Business Week profile
• MSNBC Out at Home Depot
• Seeing red over a golden parachute
• Biography
• Reference

References

1. ^ * Nardelli's downfall: It's all about the stock
2. ^ *Robert Nardelli - The New York Times
3. ^ *Nardelli-Bush article that mentions Presidential Council
4. ^ *article that mentions Bush Nardelli Garden Reception.
5. ^ *Financial Times story Nardelli's about salary