What’s worse than working for a crappy, toxic boss? I would imagine it’s watching that boss leave when the stock is at a record low and with a huge severance package…
…and then watching him move into another, high profile role:
Robert “Big Bob” Nardelli, the CEO who famously ran Home Depot into the ground by deemphasizing customer service in favor of the “business supply” division and then ran away with over $200 million in severance pay and other bonuses, has been named CEO of the Chrysler Group.
It’s not a stretch to say that Home Depot was a mess during the last portion of Nardelli’s regime. Recently, four Home Depot employees were fired after a lengthy investigation by the FBI. Allegedly, these employees were receiving kickbacks related to the placement of products in their stores.
Amazing, eh?
Most people who understand the nature of the workforce will know that these four employees who were caught most likely represent a culture of permissiveness and corruption within Home Depot. Furthermore, Nardelli is one of those CEOs who decimated the company’s culture and left with a sweet, sweet severance package.
If Nardelli is proud of his accomplishments at Home Depot, I’ll be forgoing a Chrysler product and driving my Volkswagen for many years to come.
UPDATED :: The NY Times agrees with me to some extent — the choice of Nardelli is not intuitive, to say the least.
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“I am very excited to be part of a team focused on re-establishing Chrysler as a standalone industry leader, with a renewed focus on meeting the needs of customers,” said Nardelli. “Only a private equity firm associated with the likes of Dan Quayle would place its bet on a two-bit hustler like me to resurrect the sinking ship that is Chrysler. God Bless America,” Nardelli continued.
Col, you wrote that like a champ!