Atlanta, GA, September 18, 2006--Home Depot CEO Robert Nardelli may have to take a cut in his $225 million compensation, after unhappy investors voted against some board candidates by way of protesting Nardelli's pay.
According to Bloomberg news, Bonnie Hill, who chairs the home improvement retailer's compensation committee, said that after meeting with shareholders, the group will likely change how Nardelli's pay package is determined. Home Depot's shares have fallen 15 percent since Nardelli, 58, became CEO in December 2000, slicing $25.8 billion from the Atlanta-based company's stock market value. Yet he has collected a total of $225 million.
For details see Bloomberg.com
