Case Code : CLHR025
Publication date : 2009
Subject : HROB
Industry : -
Length : 03 Pages
Price : Rs. 100
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Robert Nardelli, Home Depot, Chrysler, Cerberus Capital Management, severance package, turnaround, United Auto Workers, DaimlerChrysler AG, Tom LaSorda, autocratic manager
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This caselet discusses Bob Nardelli appointment as the Chairman and CEO of Chrysler (which became a part of US-based private equity firm, Cerberus Capital Management, in August 2007) for a base annual salary of $1. It talks about Nardelli's controversial severance deal with Home Depot where he had been the CEO, and some of the challenges that he faced in turning around Chrysler.
Analysts thought that the compensation was excessive, considering Nardelli's unpopularity at Home Depot and the company's stagnant share price during the last few years of his tenure; however, most of them agreed that he had indeed managed to improve Home Depot's financial performance...
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