Seth Godin writes about the $210 million severance that goes to Bob Nardelli for being fired as CEO of Home Depot. Back in 2003, it was reported that “Robert Nardelli… could collect more than $82 million for leaving Home Depot.” That’s quite a bump over 3 years.
$210 million is a shocking amount for getting fired.
Interesting to read this today. Just yesterday the CBC was talking about how the average CEO in Canada made $70,000 CDN by 5pm on January 2nd for 1 day of work while the average worker makes approx. $35,000 CDN per year. They also talked about corporate governance since it’s not just the CEO approving their own salaries, and in Bob’s case above serverance packages. Are boards, management groups, or whatever else actually looking out for the company and its investors when they approve such amounts?