David H. Batchelder, principal and co-founder of Relational Investors LLC, San Diego, an investment fund that was a leading critic of former Home Depot chief Robert Nardelli’s efforts to diversify the retail giant by buying wholesale companies, such as Hughes Supply. Batchelder’s business colleague, Ralph Whitworth said the company should be improving its retail stores instead.
Relational Investors owns about 1.3 percent of Home Depot’s shares. Last December, the fund told Home Depot it planned to launch a proxy battle for at least one board seat.