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Home Depot Picks General Electric Executive as CEO, President.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, December, 2000 by Bond, Patti
Dec. 6--ATLANTA--Home Depot surprised the business world Tuesday by naming General Electric's Robert Nardelli as chief executive and president.
Nardelli is the first outsider to take the helm of Home Depot's built-from-scratch success story. CEO and co-founder Arthur Blank will become co-chairman with Bernie Marcus.
Blank and Marcus launched the company with four warehouse-style stores in Atlanta in 1979 and grew it into a household name. The partners shocked observers when they said they were making room at the top.
"The general feeling was that they didn't need anyone" at that level, said analyst Dan Wewer of Deutsche Banc Alex. Brown
Home Depot operates more than a thousand stores in North America and Latin America and has plans...
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