Home Depot finally fires Nardelli

Finally. Seven months after my first blog about this awful awful overpaid CEO, they finally get rid of this problem.

Okay, the news reports right now are sketchy, but, my readers know that half the board was going to turn over, and they probably were having problems finding people with Nardelli there. On top of that, without Langone on the board to overpay and protect Nardelli from having to perform, I'm sure Nardelli wanted to get out of there while the board would still overpay him to retire rather than take his chances with a potentially competent board who would wouldn't pay him more than the market cap of the company.

The board isn't changed since my last blog about this awful board, but they deserve one last mention so we know who to avoid in the future:

Frank Blake
Chairman and CEO
The Home Depot

Gregory D. Brenneman
Chairman & CEO
TurnWorks, Inc.

John L. Clendenin
Retired Chairman, President, and CEO
BellSouth Corporation

Claudio X. González
Chairman and CEO
Kimberly-Clark de Mexico, S.A. de C.V.

Milledge A. Hart, III
Chairman of the Board
Hart Group, Inc.

Bonnie G. Hill
President
B. Hill Enterprises, LLC

Laban P. Jackson Jr.
Chairman & CEO
Clear Creek Properties, Inc.

Helen Johnson-Leipold
Chairman & CEO Johnson Outdoors Inc. and Johnson Financial Group

Lawrence R. Johnston
Former Chairman, CEO & President
Albertsons, Inc.

Kenneth G. Langone
Chairman of the Board, CEO, and President
Invemed Associates, Inc.

Angelo Mozilo
Chairman and Chief Executive Officer
Countrywide Financial Corporation

Thomas J. Ridge
Former Secretary of Homeland Security and Governor of Pennsylvania