HOME DEPOT TAPS NARDELLI AS CEO.
HFN: The Weekly Newspaper for the Home Furnishing Network, December, 2000 by Meyer, Nancy
ATLANTA-The Home Depot surprised the investment community by appointing General Electric Co.'s Robert L. Nardelli president, chief executive officer and board member. Nardelli, 52, former president of GE's $15 billion power-systems unit, is the first outsider to run Home Depot and has little retail experience.
Analysts said the world's largest home-improvement retailer wasn't known to be in the market for a CEO. Home Depot's current CEO and co-founder, 58-year-old Arthur Blank, will become co-chairman with Bernard Marcus, 71. The two men have run Home Depot since its inception in 1978.
"It's somewhat surprising to go outside the retail industry, but given the caliber of the GE pool, the perception is that it is a positive move," said Dan Kapusta,...
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