The board of The Home Depot and Bob Nardelliannounced in early January that by mutual agreement Nardelli would leave his position as The Home Depot’s chairman, president and CEO and also as a director effective Jan. 2.Frank Blake, the company’s vice chairman of the board of directors and executive vice president, succeeded Nardelli. Blake was elected chairman and CEO of The Home Depot and a full voting member of its board.
The board also announced that Carol Tome, executive vice president and CFO, would assume responsibility for mergers and acquisitions, credit services and additional strategic responsibilities. Joe DeAngelo, executive vice president of HD Supply, was appointed to the newly created position of chief operating officer, and as such, he will continue to oversee HD Supply while also assuming additional responsibilities for the retail business.
To see how these developments impact the industry, look for PM's March issue.