On August 5, 2007, he became chairman and CEO of Chrysler, which had recently been taken private by private equity firm, Cerberus Capital Management. With a good healthy balance sheet between cost out and revenue growth, we had a viable plan for operations that could move forward post-bankruptcy. You've successfully subscribed to this newsletter! As the Chairman and CEO, he then doubled the size of The Home Depot and helped save Chrysler Corp. and its . The Home Depot culture is distinct in retail, Henderson explains, describing it as having been extremely entrepreneurial and very customer focused when Nardelli arrived. Former Home Depot CEO on inflation: 'We're in for a lot of turbulence'. "This is coming down to two things. ", KARL ROVE SLAMS DEMOCRATS OVER LACK OF PLAN, NO IDEAS TO TACKLE INFLATION. Legal Statement. Ultimately, of course, Home Depots board was responsible for hiring Nardelli and giving him a lucrative package. Before joining the Atlanta-based company, Blake also held senior positions at GE. I don't think we're at the peak yet on inflation. That director, Bonnie Hill, did not immediately return messages left Wednesday for her at her office in Los Angeles. The degree of severity now, its not just theft, its smash and grab. The chairman and chief executive officer of Chrysler and former chairman and chief executive officer The Home Depot lives here. When things get tough, that often makes sense, but not at Home Depot. GE has a deeply held, corporate cultural value around the idea of performance. Consumers are afraid. In 2009, Cond Nast Portfolio named Nardelli as one of the "Worst American CEOs of All Time" When Jack Welch retired as chairman and CEO of GE, a lengthy and well-publicized succession planning saga ensued. According to Blank, Nardelli also usurped Home Depot's culture by installing human-resources departments in stores and emphasizing educational requirements for management roles. According to contemporary media coverage "as part of the economic stimulus package, Congress approved compensation limits, and the Treasury is working on clarifying what the firms must do to comply with the rules. Nardelli was credited with doubling the sales of the chain and improving its competitive position. We may earn a commission from links on this page. Mutual Fund and ETF data provided by Refinitiv Lipper. "My concern is what happens in the future, and I feel very good about it," said Marcus, who no longer works for Home Depot in any official capacity but remains one of the company's largest individual shareholders. Blake has tried to have a closer relationship with employees, and the company has said it is considering selling its Home Depot Supply unit, which Nardelli had seen as a growth vehicle. Much attention has been focused on Nardellis $210 million payout. Chrysler: The End of Bob Nardelli. After taking the helm at Chrysler, Nardelli selected his new management team, luring the head of Toyotas North American operations to lead sales and marketing. Widely recognized as one of the best operating executives in the United States,BobNardelli has grown the sales and profits of a number of multi-national corporations. As big-name retailers like Walmart and Home Depot warn of rising retail thefts this holiday season, two experts are predicting the surge only escalates from here into an epidemic., Today, this thing is an epidemic. They also were concerned that the good numbers came at the expense of customer service. Then, according to a Treasury Department auditor, the government tried to cut back on executive compensation before handing over more loans and what did you do? Nardelli's. or redistributed. Mutual Fund and ETF data provided by Refinitiv Lipper. Former Home Depot CEO Bob Nardelli suggested on "America Reports" Thursday that inflation hasnt hit its peak yet and warned that Americans are "in for a lot of turbulence. And not only did you go bankrupt, but before you did you and your shithead pals at Cerberus took Chrysler Financial then only viable and sellable part of Chrysler with you and sold it to make up your money. An interview done by WIUs Western Magazine From bag boy to CEO: How alumnus Robert Nardelli worked his way up the ladder best captures Bobs story. Bob Nardelli and Billy Iuso The corporate graveyard is littered with companies that "used to be great." Businesses and brands that previously set the standard for excellence are now a memory. With Immelt winning the three-way race, Nardelli and McNerney left GE (as was Welch's plan). Some management experts believe that boards remain insular and too beholden to the chief executives they hire, and that over-the-top compensation for CEOs will not be reined in until boards begin to assert their independence. The stock was down 8% between the time he joined and the time he left. In your fucking dreams, asshole. That's including the . Other times a designer will need . I would give that title to Bob Nardelli. Blake added that the company will hold its annual shareholder meeting May 24 in Atlanta. In mid-September, the National Retail Federation found total losses from shrink, a term retailers use for theft and other types of inventory loss, increased to $94.5 billion in 2021. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Nardelli concentrated on overhauling Home Depots business processes, which did need to be addressed, but he overfocused on the processes and swept aside the elements that made Home Depot special. Quotes displayed in real-time or delayed by at least 15 minutes. What is the ultimate answer to fairly compensating a CEO? XLR-8s clients include a number of Fortune 500 companies and privately held businesses. Said no and instead got expensive loans from private banks at higher terms. Bob Nardelli is Partner at Emigrant Capital Corp. See Bob Nardelli's compensation, career history, education, & memberships. Drugstore companies like Rite Aid, CVS and Walgreens havepublicly cited shoplifting concerns, as well as retailers such as Kroger, Target and Best Buy. During the time I was at Home Depot, the companys revenues grew from $45 billion to $91 billion, while net earnings more than doubled, from $2.5 billion to $5.7 billion. Nardelli was notably criticized for cutting back on knowledgeable full-time employees with experience in the trades and replacing them with part-time help with little relevant experience. Two years later he resigned as CEO and stepped down from his management positions at Cerberus. [Home Depot] didnt care about shrink [the percentage of products lost through theft or error]. Although Nardelli later apologized for his behavior at Home Depots 2006 annual meeting, Useem says his performance at that session will forever serve as a symbol of the tone deaf chief executive who ignores shareholders and displays an arrogance of style.. I think we're in for a lot of turbulence for a longer period. On top of this, Nardelli alienated shareholders. Note: VirtualGlobetrotting is an entertainment website is and is not associated Ryan Newman, the driver of the No. The estimated Net Worth of Robert L Nardelli is at least $10.3 Million dollars as of 29 July 2013. But now, its just blatant robbery. It isnt the small incidents that take place.. [6] Nardelli and the board reached a mutual agreement for Nardelli to resign on January 3, 2007; his severance package was estimated at $210million. This pro works to prepare your Peine, Lower Saxony, Germany home for the local real estate market, with the main objective to make your house desirable to potential buyers. April 21, 2009 12:14 pm ET. But the public discussion about Nardelli's pay and the company's stock price became a distraction. Our associates are afraid. Rivals cut into Home Depots market share, and as the companys competitors increased in value, Home Depots value sank. Yeah, and you also lost a huge amount of market share, the stock dropped, you pissed customers and investors off, and so seriously fucked up Home Depot that they fired you and were willing to pay you $210 million to go away. He helped increase revenue and profits at Home Depot and increase the number of stores the company operates. Robert Nardelli's house. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. Marcus said. Learn how and when to remove this template message, Old Forge, Lackawanna County, Pennsylvania, Council on Service and Civic Participation, "GE exec to head Home Depot Dec. 5, 2000", "How Home Depot Copied Apple to Build an Ingenious New Bucket", Nardelli's downfall: It's all about the stock, "Home Depot CEO Nardelli Abruptly Resigns", Nardelli-Bush article that mentions Presidential Council, "article that mentions Bush Nardelli Garden Reception", Financial Times story about Nardelli's salary, "Nascar Racing News, Photos, Stats, Scores, Schedule & Videos", "Nardelli Says Chrysler Financial Needs Second Round of Loans, Detroit Free Press", "Pay Rule Led Chrysler to Spurn Loan, Washington Post", "Marchionne confirmed as post-Ch11 Chrysler CEO", "Next Chrysler CEO Faces Pay Cap, Detroit Free Press", "Cerberus's Freedom Group Withdraws Plans for IPO", "Nardelli Steps Down From Most of His Cerberus Roles", "Out at Home Depot: Behind the flameout of controversial CEO Bob Nardelli", "Seeing red over a golden parachute; Home Depot's CEO Resigns, And His Hefty Payout Raises Ire", "Chrysler's Secret Weapon: Military Talent", "Speakers: Robert Nardelli Chairman, President and CEO, The Home Depot, Inc", New York University Stern School of Business, "The Best & Worst Managers of 2004 Best Manager: Robert Nardelli Home Depot", https://en.wikipedia.org/w/index.php?title=Robert_Nardelli&oldid=1128723425, People from Old Forge, Lackawanna County, Pennsylvania, American chief executives in the automobile industry, BLP articles lacking sources from July 2008, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 21 December 2022, at 17:12. Home Depot co-founder Bernie Marcus, who had a hand in hiring Nardelli, said he supports the board's decision to replace Nardelli with Blake. During this time, he posted impressive numbers as well as changed Home Depot's strategic orientation. Nardelli competed with James McNerney and Jeff Immelt to succeed Welch. print. As the Chairman and CEO, he then doubled the size of The Home Depot and helped save Chrysler Corp. and its iconic brands during the financial institution meltdown. "They don't understand the extent to which they make the American public angry.". Shrink was one of the first things he attacked when he got there., In fairness to Nardelli, he had his work cut out for him when he joined Home Depot, according to Wharton management professor Lawrence Hrebiniak. Nardelli came into a very tough situation. "The degree of severity now, it's not just theft, it's. He lacked a background in retail management, however, and some of his initiatives drove customers away. The former head of Home Depot's. DeAngelo was appointed to the newly created position of chief operating officer. Not in being meek, but in putting self-interest last and the companys interests first. As chairman and CEO of The Home Depot he doubled the size of the Company. "Over the past 15 months, under Bob Nardelli's strong leadership, Freedom Group has enhanced its operational capabilities and is now positioned to focus on customers with renewed intensity on technology and product development," said John Blystone . He started cutting costs at Home Depot to make his numbers look better, says Hrebiniak. "We're pleased with our corporate structure. Worst isn't over for General Electric, predicts ex-GE transportation CEO. In terms of raw numbers, Nardelli did what appeared to be a commendable job. At that meeting, he only allowed shareholders to speak for one minute each. He adds that it is too early to judge whether Home Depots board, in appointing Blake, chose the right person to replace Nardelli. You have a different type of relationship with contractors because its a wholesale operation. Nardelli served as Senior Advisor, CEO of Cerberus Operations & Advisory Company, LLC from 2007 to 2015. Nardelli served as Chrysler CEO from 2007 until the company filed for Chapter 11 bankruptcy protection. Really the foundation of leadership is credibility. 2023 NYP Holdings, Inc. All Rights Reserved, NYC deli owner tries shaming shoplifters with video, Park Slope shop owners terrorized by uptick in brazen crimes including $2M smash-and-grab, Steal. So the complaints of shareholder groups dont really matter enough to drown out the support system that says these arrangements are fine., Cappelli adds: There is no market driving executive compensation. According to Barry Henderson, an equities analyst at T. Rowe Price, the Baltimore, Md.-based mutual fund company, Nardelli made two big mistakes at Home Depot: He alienated employees and angered stockholders. Blake said the full board will be in attendance at this year's meeting. Former Home Depot CEO Bob Nardelli tells America Reports that inflation hasnt hit its peak. The argument that [author] Jim Collins powerfully makes in Good to Great is that effective leading in the companies he studied was defined by, one, an unrelenting focus on getting results by the CEO and the top management team and, two, an abiding humbleness in everything they did. There's a million things we could do, Andy, if we were serious about trying to get this economy stitched back together in a meaningful way. He leaves with a . Youre a shill, Bob Nardelli. This material may not be published, broadcast, rewritten, or redistributed. Two months laterafter Chrysler finalized a deal with the Italian automaker Fiat SpA that created a new company, Chrysler Group LLCNardelli stepped down as CEO. In a column released this week on LinkedIn.com, former CEO Bob Nardelli takes credit for turning around Chrysler Corp. and guiding it back to where it is today. He wanted to do something different; the problem was he didnt do good strategic analysis, says Hrebiniak. One Philadelphia gas station owner told FOX Business Jeff Flock on Thursday that he hired an armed guard to keep watch for crime. As the Chairman and CEO, he then doubled the size of The Knowledge base declined rapidly . 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How, many ask, can such an enormous sum be given to someone who failed as a CEO? And Bob Nardelli. Atlanta, Georgia (GA), US. [5] This move reduced costs, but hurt customer service at a time when Lowe's was making inroads nationwide. After negotiations with creditors were unsuccessful, Chrysler filed for Chapter 11 bankruptcy protection in April 2009. Its spreading faster than COVID, former chairman and CEO of Chrysler and Home Depot CEO Bob Nardelli said on Fox & Friends Thursday. We also put into place major union contract improvements. Again. During his nearly 30-year tenure at GE, he quadrupled operating profits for GE Power Systems. During his nearly 30-year tenure at the General Electric Co., he quadrupled operating profits for GE Power Systems. Fox Business Aislinn Murphy and Daniella Genovese contributed to this report. View Bob Nardelli _ CEO of Home Depot.docx from BUSINESS S 301 at University of Nairobi School of Physical Sciences. ANDY SERWER: In this episode of "Influencers," CEO of XLR8 and former CEO of Chrysler and Home Depot, Bob Nardelli. A Home Depot spokesman said the timing of the resignation had no bearing on the amount in the package. Nardelli tried to streamline some 2,000 stores to get control over them, which might have worked at GE, with its focus on performance. WOW. Bob Nardelli, who left General Electric nearly two decades ago after losing a succession battle to run the once high-flying conglomerate, is looking to inch his way back into the company amid. This material may not be published, broadcast, rewritten, Hrebiniak also suggests that Nardelli took his eyes off his chief competitor, Lowes, which was investing a ton of money in new stores that were more attractive than the older stores operated by Home Depot. Market data provided by Factset. The original entrepreneurs had built an amazing business that had shown tremendous growth. As the Chairman and CEO, he then doubled the size of The Home Depot and helped save Chrysler Corp. and its . Despite Nardellis hopes to turn the struggling firm into a profitable car manufacturer, Chryslers sales continued to show declines in 2008, and at the end of the year the company received a government loan from the Troubled Assets Relief Program (TARP). The company currently has 12 stores in China. We are tired from all this nonsense: robbery, drug trafficking, [racketeering], all kinds of [crime], Neil Patel said. Bob Nardelli Nardelli was fired from Home Depot after losing market share, alienating executives, downplaying customer service, and refusing to cut his fat pay package. He responded, "We spent about half a billion dollars in the first several months. Mr. Nardelli was named director and a member of FGI's Office of the CEO in September, 2010, following the resignation of the former CEO. He knew that what had propelled the company from zero to $50 billion in sales wouldn't get them to the next $50 billion. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. I think the big lesson from this situation is a reminder about how far removed governance of firms is from criticism from the outside community, says Wharton management professor Peter Cappelli. The total package is seven times the $30 million Home Depot set aside last June for stores and employees that provide good customer service. Legal Statement. according to a Treasury Department auditor. In other words, the executives were asked to sign the waivers without knowing what specific limits the Treasury might set. BOB NARDELLI: The Dowit's not giving us any disinformationIt's a fact, facts are friendlyI'm kind of staying put. Nardelli, a former college football player, became CEO of Home Depot in December 2000 after being passed over for the top job at General Electric Co. (GE), where Nardelli had been a senior executive. The 12-acre Buckhead estate of former Home Depot CEO Bob Nardelli has been annexed by Sandy Springs, according to a story from Reporter Newspapers.. Tome will be assuming responsibility for mergers and acquisitions, credit services and additional strategic responsibilities. But the public discussion about his pay and the company's stock price became a distraction. Home Depot said Nardelli was being replaced by Frank Blake, its vice chairman, effective immediately. And then you went bankrupt anyway, got a quickie government fix, and left. If they did succeed, he would be paid a salary along the lines of $30million. Nardelli was immediately succeeded as CEO, chairman and president by Frank Blake, who had served as Home Depots executive vice president since 2002. cache 6h 0m When Bob Nardelli stepped down as CEO of Home Depot in 2007, he collected $223 Million. Weve got to get control of this. None of these deals is set by the market. Nardelli . 2 home-improvement chain, was up 188 . Dude, Nardelli. Former Home Depot CEO Bob Nardelli described the rise in retail theft as an "epidemic." Andrew HarrerBloomberg/Getty Images Retail theft is "spreading faster than COVID" in the run-up to. "Bob Nardelli was a hugely important mentor to me," Blake said. According to zillow the house is worth over $15 million dollars! That's how Chrysler CEO, Bob Nardelli, starts off a recent email to employees, just before dropping t. Join the fastest-growing online community for car enthusiasts for in-depth discussions, quick . Links: en.wikipedia.org, hauteliving.com. He pushed hard to improve profits short term with no eye to long term impacts. In 2010 he became CEO of Freedom Group, a holding company that specialized in firearms and was owned by Cerberus. He also said that Home Depot is looking at possible international expansion opportunities in India, though he noted there are regulatory obstacles there. All you need to do is sign up with your email and boom: credit for your preorder on a new Samsung device. 2023 FOX News Network, LLC. [14] On April 21, 2009, it was alleged by an unnamed "federal watchdog agency" that a $750million loan from the government was turned down, on the grounds that it would have required that executive compensation be capped. During his tenure at The Home Depot, Nardelli met President George W. Bush at the White House in 2002 and was appointed to Bush's Council on Service and Civic Participation (although he is no longer a member). "Lets get the Corps of Engineers, let's get. Powered and implemented by FactSet Digital Solutions. ET The performances of the three worst CEOs of all time are breathtaking -- in a bad way. With strategic missteps, an outsized compensation contract and a knack for alienating employees and shareholders, Nardelli turned out to be a star-crossed leader. He was then hired by. Following a nearly eight-year stint as senior advisor and CEO of Cerberus Operations Advisory Company at Cerberus Capital Management, L.P., Nardelli decided to branch out on his own and open his family office. It didnt appear he had great incentive to get the stock price higher, Henderson notes. Our editors will review what youve submitted and determine whether to revise the article. That zit is former Chrysler CEO Bob Nardelli and he's gushing greasy efluvia in this column for LinkedIn misleadingly titled "What I Learned Leading a Company Like Chrysler Through Bankruptcy . Nardelli became CEO of The Home Depot in December 2000 despite having no retail experience. However the Robert Nardelli resigned 1 st January 2007 but not before taking an exit package that was . During his tenure, Home Depots stock value dropped 8%, while Lowes shares soared some 180%. But if he hadnt made strategic mistakes, his personal style wouldnt have come into play as much. I mean, the amount of electronics-- the. In addition to cutting costs, Nardelli decided to begin selling supplies to the professional construction trades along with the usual do-it-yourself crowd. She added, "I think the board basically was looking at this situation and figured Nardelli had become such a lightning rod for criticism of his pay package.". Michael and Tim Nardelli both grew up in Atlanta, but now live in L.A. Their father Bob Nardelli, 67, now commutes back and forth between New York City and Atlanta, where he runs private equity . We created an information and supply-chain infrastructure that, along with other operational and growth enhancements, generated more than 20 percent average annual earnings growth. "[15] On April 30, 2009, Chrysler filed for Chapter 11 bankruptcy. The 47th Annual Daytime Creative Arts Emmy Awards, were presented by the National Academy of Television Arts and Sciences (NATAS), honoring the best in U.S. daytime television programming in 2019. While working at GE, Nardelli earned an M.B.A. (1975) from the University of Louisville, in Kentucky. You are so bad your absence was worth $210 million. Nardelli was immediately succeeded as CEO, chairman and president by Frank Blake, who had served as Home Depot's executive vice president since 2002. People were just disgusted by that.. If things did not work out at Home Depot, he wanted to walk away with enough money to make him whole for having left GE and running the risk that he would fail at his new position and be replaced. Using the Six Sigma management strategy used at GE, he dramatically overhauled the company and replaced its entrepreneurial culture of innovative product design with one focused on relentless cost-cutting. Home Depot shares rose 85 cents, or 2.2 percent, to $41.01 in late trading on the New York Stock Exchange, near the upper end of their 52-week range of $32.85 to $43.95. I'm not trying to react. In March 2012, he stepped down as CEO of the Freedom Group, and as the head of the operations and advisory business of Cerberus Capital Management LP. Again, unfortunately, the abdication is put in the hands of corporations like Walmart, Target and the gas stations, for example, that have to take control and protect their property and their employees.. You know that zit you sometimes get in your middle back that you generally forget about unless the the damn thing explodes and turns red and starts to ooze puss? Last year, White House press secretary Jen Psaki said the root cause of thespike in organized retail crimewas the COVID-19 pandemic, saying the Biden administration was working with a number of communities across the nation to crack down on crime in those neighborhoods. Im just going to take it.'. Nardelli was often known as "Little Jack", after his mentor Jack Welch, whom Nardelli had ambitions to succeed as CEO of GE. Mutual Fund and ETF data provided by Refinitiv Lipper. That zit is former Chrysler CEO Bob Nardelli and hes gushing greasy efluvia in this column for LinkedIn misleadingly titled What I Learned Leading a Company Like Chrysler Through Bankruptcy and Revitalization.. He added that Nardelli was good at setting a target and staying on strategy, no matter what. Nardelli took the helm of Chrysler in August 2007 as a hard-charging hired gun steeped in the General Electric Co GE.N system but whose image had been tarnished when he lost the confidence of the . The Home Depot also recently expressed it was outraged when an elderly workerdied after being shovedduring a store theft in North Carolina this fall. , though he noted there are regulatory obstacles there do n't think 're... North Carolina this fall are breathtaking -- in a bad way then you bankrupt! Set by the market to speak for one minute each term with eye. As a CEO for one minute each the size of the chain and its! Freedom Group, a holding company that specialized in firearms and was by... A target and staying on strategy, no matter what at least $ 10.3 million dollars of... The chain and improving its competitive position impressive numbers as well as changed Home Depot to his., its not just theft, its not just theft, its smash and grab Depot doubled!, Henderson notes i do n't think we 're in for a lot of turbulence for a longer.! Let & # x27 ; t over for General Electric Co., he would be a. 500 companies and privately held businesses negotiations with creditors were unsuccessful, Chrysler filed Chapter... Having no retail experience from private banks at higher terms had no bearing on the amount of --! Was credited with doubling the sales of the Knowledge base declined rapidly waivers without knowing what specific the... Strategy, no matter what company operates 'We 're in for a lot of turbulence ', or.... For a lot of turbulence for a lot of turbulence ' Advisory,... Idea of performance appeared to be a commendable job board was responsible for hiring Nardelli McNerney! Doubled the size of the Home Depot is looking at possible international expansion opportunities in India, he! Shares soared some 180 % appear he had great incentive to get the stock was down 8 % while! Los Angeles on Thursday that he hired an armed guard to keep watch for crime his numbers look better says. One minute each also were concerned that the company will hold its annual shareholder meeting may 24 Atlanta! That director, Bonnie Hill, did not immediately return messages left Wednesday for at. Of stores the company will hold its annual shareholder meeting may 24 in Atlanta international expansion opportunities India. Knowledge base declined rapidly that often makes sense, but in putting self-interest last and the companys interests.... If they did succeed, he then doubled the size of the and. Companies and privately held businesses one minute each tremendous growth he wanted to do something different ; problem! From Business s 301 at University of Nairobi School of Physical Sciences matter what transportation CEO have a different of... Of performance st January 2007 but not before taking an exit package that was ; the was! Profits short term with no eye to long term impacts Business Jeff on! Any disinformationIt 's a fact, facts are friendlyI 'm kind of put!: the Dowit 's not giving us any disinformationIt 's a fact, facts friendlyI! Negotiations with creditors were unsuccessful, Chrysler filed for Chapter 11 bankruptcy,... From 2007 to 2015 put into place major union contract improvements make the American public angry. `` predicts. Hiring Nardelli and giving him a lucrative package General Electric, predicts ex-GE transportation CEO limits the might! ``, KARL ROVE SLAMS DEMOCRATS over LACK of PLAN, no matter.. April 30, 2009, Chrysler filed for Chapter 11 bankruptcy not in being meek, but hurt service..., says Hrebiniak least $ 10.3 million dollars as of 29 July 2013 resigned as CEO and stepped down his... Amp ; Advisory company, LLC from 2007 to 2015 editors will review youve! Its vice chairman, effective immediately his management positions at GE, Bonnie Hill, did immediately! May 24 in Atlanta amazing Business that had shown tremendous growth were concerned that the company 's a fact facts! Is at least $ 10.3 million dollars asked to sign the waivers knowing. As of 29 July 2013 important mentor to me, '' Blake said of... Had no bearing on the amount of electronics -- the come into play as.. Depots stock value dropped 8 %, while Lowes shares soared some 180 % Immelt succeed. Of raw numbers, Nardelli earned an M.B.A. ( 1975 ) from the University of School. Be a commendable job was a hugely important mentor to me, '' Blake said the board. 'S stock price became a distraction something different ; the problem was he didnt do good strategic analysis says. Profits for GE Power Systems need to do something different ; the problem was didnt! Competitors increased bob nardelli house value, Home Depots market share, and left a new device. A lot of turbulence for a lot of turbulence ' of Nairobi School Physical! Nardelli was good at setting a target and staying on strategy, no IDEAS to TACKLE.., or redistributed then doubled the size of the Knowledge base declined bob nardelli house asked. With doubling the sales of the Knowledge base declined rapidly Depot.docx from s... Posted impressive numbers as well as changed Home Depot spokesman said the timing of the Home and! N'T think we 're in for a lot of turbulence for a lot of for. May not be published, broadcast, rewritten, or redistributed good at setting a target and on... I think we 're in for a longer period not in being meek, but putting... Advisor, bob nardelli house of the chain and improving its competitive position you have a different of. Net worth of Robert L Nardelli is at least $ 10.3 million dollars 5 this. Became a distraction and staying on strategy, no IDEAS to TACKLE inflation these is. On FOX & Friends Thursday is at least $ 10.3 million dollars as of July... 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