That’s the question that Dominic Jones wants answered, and he noted on his IR Web Report blog that he can’t get a straight answer from the business journalists who covered the ouster of Bob Nardelli from the Atlanta-based home improvement retailer.
Jones wrote, “No one seems to know for sure, in part because the figures for 2006 haven’t been published yet. Even so, I’ve seen five different amounts quoted by the same number of media outlets.
“Take a look at the excerpts below:
“From the New York Times: ‘At Home Depot, Mr. Nardelli is expected to receive an exit package worth more than $210 million on top of the nearly $64 million he was paid during his six years at the helm.’
“From the Financial Times: ‘Home Depot said that, under the terms of his contract, Mr Nardelli would receive a severance package worth $210m, in addition to the more than $120m that he has received in compensation since joining the company.’
“From Bloomberg: ‘Home Depot Inc., the world’s largest home-improvement retailer, ousted Chief Executive Officer Robert Nardelli after investors criticized him for earning $225 million during his six-year tenure.’
“From the Atlanta Journal Constitution: ‘By the end of 2005, Nardelli received packages worth $154.3 million, not counting the value of stock options, since becoming CEO. His pay for 2006 hasn’t been disclosed.’
“From the Associated Press: ‘As of the end of 2005, Nardelli had earned $123.7 million in compensation, excluding certain stock-option grants, since becoming CEO. His compensation for 2006 has not yet been disclosed.'”
Ouch. Read more here.
