reuters

this is so excessive, no frickin way i shop at home depot much anymore. Good thing lowe's is closer to my house. It's not has base salary I take issue with, its the severance package.

UPDATE 1-Home Depot ties most CEO pay to performance

(Adds details)

ATLANTA, Jan 24 (Reuters) - Home Depot Inc. <HD.N>, under fire by critics who charged that it overpaid former Chief Executive Robert Nardelli, on Wednesday said the 2007 compensation package of its new CEO was valued at $8.9 million, with 89 percent of that at risk based on company performance.

The home improvement retailer said it reached agreement with Frank Blake, who succeeded Nardelli as chairman and CEO earlier this month, on terms of his pay on Jan. 23.

Blake's annual base salary is $975,000, and his compensation pact does not include a guaranteed bonus or severance benefits, Home Depot said.

The $8.9 million includes the base salary; bonus target of $1,950,000; $2.5 million in performance shares based on the company's shareholder return compared with the S&P 500 over a three-year period; $2.5 million in stock options that will only vest if the share price rises 25 percent from the grant date; and $975,000 in long-term incentive pay contingent on per-share profit meeting three-year performance goals.

"After being criticized broadly for Nardelli's comp package, we believe the board had to align compensation to returns to earn shareholder respect," Goldman Sachs analyst Matthew Fassler said in a research note.

Nardelli, who left the retailer by mutual agreement with the board on Jan. 2, had been assailed by shareholders and others who charged his pay was not in line with Home Depot's stock performance.

Nardelli earned at least $119,2 million in salary and bonus during his six years at Home Depot and was entitled to severance of $210 million under terms of his employment pact.

Edited January 25, 200719 yr by regfootball

That is disgusting.

Lowes is not great either though... they're a very uptight organization.

My friend handled their account at her AD agency in NY, NY & I guess

they have a stick up their @$$. They did not want their comercials

shown durring and show on TV involving risque' topics like pre-marital

sex, homosexuality etc...

So I guess shows like Will & Grace and (their example) Friends are

NOT WHOLESOME enoug for their organzation. I think both of those

shows suck along with 90% of today's TV but I would not go out of

my way to reward people for being so damn uptight.

That's where my bonus went...

That is disgusting.

Lowes is not great either though... they're a very uptight organization.

My friend handled their account at her AD agency in NY, NY & I guess

they have a stick up their @$$. They did not want their comercials

shown durring and show on TV involving risque' topics like pre-marital

sex, homosexuality etc...

So I guess shows like Will & Grace and (their example) Friends are

NOT WHOLESOME enoug for their organzation. I think both of those

shows suck along with 90% of today's TV but I would not go out of

my way to reward people for being so damn uptight.

I think Lowes has more to worry about than that.

Lowes Is getting a rep for treating their management and people bad.....

I've heard that they plan to cut staff in every store-and have every person in that store multi-tasking as much as possible..it's all about the money there.....

HD has its issues, but they still give a s**t about their people....

reuters

this is so excessive, no frickin way i shop at home depot much anymore. Good thing lowe's is closer to my house. It's not has base salary I take issue with, its the severance package.

Still quite sad though...