Posted by: David Kiley on August 7, 2007
If true, that’s a far cry from the money the poster-boy for excessive exec pay made at Home Depot. It could well be true. Nardelli didn’t answer questions about his salary at Monday’s press conference. But it would be in keeping with these private-equity deals to offer Nardelli a piece of the company if he is successful in fixing it. Note: Bill Ford also takes $1 a year in salary, with the rest being performance pay.
If Nardelli really wants to rehab his image, so tarnished at his exit at Home Depot, he will not only fix Chrysler, but also address his pay issues at Home Depot on the record and forthrightly as being an example of what’s wrong with corporate America and exec pay. But since his one-time mentor Jack Welch is a dogged defender of out-sized pay and retirement packages, I’m not holding my breath.