Home Depot’s Nardelli Seeks Successor

Feb 12, 2003
George Anderson

By George Anderson

Bob Nardelli, chairman, chief executive and president, Home Depot has told The Atlanta Journal-Constitution he is developing a succession plan to appoint a number two executive at the DIY chain.

Mr. Nardelli said, “The issue is making sure that we’ve got the right person in place. I want to do everything I can to develop people within this company.”

Analysts such as Deutsche Bank’s Michael Baker believe that finding the right number two to handle day-to-day operations of the company could free up Mr. Nardelli “to focus on long-term strategic planning.”

Moderator’s Comment: Are the specific job responsibilities
of chairman, chief executive and president too much for a single individual
to handle effectively in large organizations such as Home Depot? How important
is a succession strategy for the long-term welfare of a company?

Another analyst, Colin McGranahan, Sanford C. Bernstein,
told The Atlanta Journal Constitution Mr. Nardelli should also bring in an independent
chairman in addition to finding a number two to assume the duties of company
president. [George
Anderson – Moderator

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