Atlanta, GA, February 2--Home Depot director Roger S. Penske doesn't plan to stand for re-election to the company's board, the home-improvement retailer disclosed Tuesday.
Atlanta-based Home Depot said Penske informed the company of his decision on Thursday, citing increasing demands on his time.
Penske, the chief executive of Penske Corp. and chairman of Penske Truck Leasing Corp., will remain on the board for the remainder of his term, which ends with the company's 2005 annual shareholder meeting.
