The departure of Bob Nardelli, who, along with his board, was the winner of the Finlay ON Governance 2006 Home Despot award for obliviousness to the growing discontent of shareholders and customers, is only a partial solution to the crisis at Home Depot.
The question now is what about the board that caused the situation to drag on for so long and permitted the company to become the object of widespread ridicule and animosity. A good beginning would be the resignation of the Home Depot directors who couldn’t be bothered to show up at the last annual meeting. Oh, you say that was the entire board?
What a pity.