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Home Depot Dumps Despot

Stock quotes in this article: HD , NYX  

Home Depot (HD Quote) CEO Bob Nardelli finally got an offer he couldn't refuse.

Ending months of tumult at the Atlanta-based home-improvement retailer, Home Depot's board generously handed Nardelli $210 million Wednesday to pack his bags. Wall Street applauded, sending shares up 4% in midday trading.

The move comes less than a month after a big shareholder, riled by Nardelli's hefty pay and the stock's long stupor, threatened to start a proxy fight if Home Depot's board didn't agree to review its strategy and corporate governance. The company agreed to a meeting but pledged to stay its charted course. ...

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