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He will not seek re-election to the board. Co-founder Bernie Marcus, 71, the company’s other co-chairman, is expected to continue as chairman. Blank decided to retire sooner than he had planned, primarily because of what he called the successful transition of leadership to CEO Robert Nardelli, a former General Electric Co...
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executive and the first outsider at Home Depot’s helm. Nardelli, 52, replaced Blank as CEO on December 5, 2000.
When Blank was CEO, sales more than doubled to $45.7 billion last year from fiscal 1996, and the stock price almost quadrupled, helping to make Home Depot sixth on the Fortune magazine’s list of most Admired Companies in America...
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