The New Year began with a bang for Home Depot.  On January 2, Bob Nardelli resigned as chairman and CEO, and was succeeded by Frank Blake.  Blake was the company's vice chairman of the BOD, and an executive VP.  The official news release can be found below:

http://ir.homedepot.com/ReleaseDetail.cfm?ReleaseID=224078

Nardelli's resignation was the latest of a wave of CEOs taking off with huge severance packages, sparking media and stockholder outrage.   Despite a six-year tenure that left the company worth less than when he took the helm, Mr. Nardelli walked away with a separation agreement of "around" $210 million!  These figures prompt the average worker, like me, to ponder the incentive a CEO has for doing a good job.  If I'm nearing retirement age, for example, am I better off financially if I retire, or if I get fired?  Popular author Mitch Albom has a take on CEO compensation at the link below:

  http://www.dailybreeze.com/opinion/articles/5205676.html

In any event, it will be interesting to track Home Depot's performance in 2007, as Blake takes over and implements his strategy for improved performance.  He left a good impression on analysts in an initial meeting, and laid out his top priorities.  On this list so far are taking care of employees and customers by allowing greater decision-making authority at the individual store level, improving employee-management relationships, cleaning up the stores, and making sure the product mix is appealing to consumers.  His goal is to re-energize an entrepreneurial spirit at the company.  We'll see!  MarketWatch covers Blake's initial meet and greet at the link below: