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Article: The year in governance; A month-by-month recap of the people, actions, and organizations that defined and refined board oversight in 2007.(YEAR IN REVIEW 2007)
- Article from:
- Directors & Boards
- Article date:
- June 22, 2008
- Author:
CopyrightCOPYRIGHT 2008 Directors and Boards. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JANUARY
STARTING OFF THE YEAR with a bang, Home Depot Chairman and CEO Robert Nardelli announced his resignation on Jan. 3. He never quite recovered from a fiasco of a shareholder meeting in 2006, and was continually under fire for his management practices and outsized compensation. The "surprising defenestration of one of the nation's most imperious and highly paid chief executives" reported Gretchen Morgenson of the New York Times, "was a victory for shareholders hoping to force corporate directors to be more accountable on the increasingly incendiary issues of executive pay." Nardelli resurfaced later in the year as CEO of Chrysler Corp. (see August).