Cerberus has [hired Robert Nardelli](http://money.cnn.com/2007/08/05/news/companies/chryslernardelli.fortune/index.htm?postversion=2007080523 “Robert Nardelli”) to be their new CEO. This is the guy whose previous job ended in disgrace. His claim to fame was that Home Depot’s stock had dropped 40%, all while he received a giant compensation package.
>Nardelli angered Home Depot shareholders when he refused to take questions during a shareholder meeting in May 2006 as the stock was floundering. His rich pay package drew fire; he earned $38.1 million last year. Ultimately he was forced out of the company in January 2007, but left with a $210 million golden parachute in cash and stock options that included a $20 million severance payment and retirement benefits of $32 million.
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>To be sure, plenty of executives before Nardelli have gotten away with big paychecks and imperious behavior. In the end, it was the stock price that got him. As Bernie Marcus, co-founder of Home Depot, told Fortune after Nardelli’s departure, “if the stock had doubled, who would have cared? Instead it went nowhere, and that’s what this is all about.”
Usually, when CNN need to use the term that’s right in their article, it’s a little shocking to the rest of the world.
>That’s right. Ceberus has confirmed that the disgraced former CEO of Home Depot (Charts, Fortune 500), who became the poster child for excessive CEO compensation, has taken the reigns at Chrysler. On the day the deal was finalized, August 3, Nardelli was elected to the Chrysler board. Soon after, the directors appointed him chairman and chief executive.
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