Home Depot Realigns Regional Divisions

Home improvement products retailer Home Depot(HD Quote) plans to eliminate the group president role and realign its U.S. divisions and units immediately.

All division presidents will report directly to Bob Nardelli, the company's president and chief executive. Home Depot's eastern Great Lakes and Western Great Lakes divisions will be combined to form the Midwest Division.

The company also said its Expo Design Centers will now have eastern and western divisions, instead of the previously announced three-division structure.

Last week the company, a component of the Dow Jones Industrial Average, warned that its fourth-quarter earnings would check in below expectations.

Shares of Home Depot, which is based in Atlanta, closed up $1, or 2.3%, to $44.75 on the New York Stock Exchange.