As if all the other things about HD weren’t enough, Bob Nardelli of Home Depot ruled with an iron fist over their annual meeting the other day. Reports are that he controlled all the discussion, allowed no dissent, and brushed off concerns over his massive pay package.
Perhaps most shocking however is that not a single member of the board (or at least the compensation committee) showed up. That’s right, one of the most over-paid CEO’s in America holds an annual meeting and no member of the paymasters decides it’s worth their time to see what the owners think. Sad.
Apparently it went so poorly that HD’s PR team issued a release saying that the company “apologizes if the absence of the board offended anyone” (or something like that). I guess even the most strident generals realize when they get caught with their junta down.