Home Depot Shuffle

Home Depot (HD Quote - Cramer on HD - Stock Picks) shuffled executives in a bid to streamline decision making and "enhance in-store execution."

The Atlanta-based home improvement retailer said four division presidents in North America will report to CEO Bob Nardelli. Finance chief Carol Tome will take responsibility for supporting store operations, including asset protection and customer service.

Frank Blake, executive vice president for business development & corporate operations, will join the board as vice chairman and nonvoting member.

Carl Liebert, executive vice president for Home Depot Stores, and Bill Lennie, senior vice president for merchandising and decor, will leave to pursue opportunities outside the home improvement industry.

"The changes announced today, along with our recent reinvestment in our retail operations, will help us meet the challenges posed by the uncertain economy over the next several months," said Nardelli. "In listening to feedback from front-line associates over the past few months, it is clear that a more direct and focused management of store operations and related functions will further empower our stores to better serve our customers and gain market share in a challenging business environment."