Robert L. Nardelli, the chief executive of Home Depot, who came under heavy criticism for his pay package and failure to lift the chain’s stagnant stock price, has abruptly resigned, the company said today.
In its statement, Home Depot said that Mr. Nardelli and the company’s board “mutually agreed that Nardelli would leave his position.”
He will receive about $210 million in compensation from the company, including the current value of retirement and other benefits he was already entitled to, the statement said.
Frank Blake, the company’s vice chairman, succeeds Mr. Nardelli immediately as chief executive, the company said
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