- US Job Losses to Bottom out Next Quarter: NABE
- Late Payments on Credit Cards Drop in Third Quarter
- Smallest US Businesses Borrowing Again: PayNet
- Little Sign of Inflation on the Horizon: IMF
- Kraft Weighs Higher Cadbury Bid as Rivals Circle
- MBS Program Should be Extended: Fed's Bullard
- Tyson Food Profit Beats Estimates
- JPMorgan's Dimon Could Succeed Geithner: Report
- For Newspapers, Even Good News Isn't That Good
- Farrell: Obama Hectored, Ignored and Restricted?
- Don't Dwell on Investment Mistakes; Move on, Like Buffett
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
- U.S. Stocks Slip, Dollar Rises
- How Stock Investors Can Play Holiday Travel
- Time Lapse World Series Is A Great Play
- Hirschhorn: Greed...or Fear
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
MOST SHARED
- Wall Street Finds Profits by Reducing Mortgages
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
- Kraft Weighs Higher Cadbury Bid as Rivals Circle
- MBS Buyback Program Should be Extended: Fed's Bullard
- China Wind Power Reportedly Seeking $2.2 Billion in IPO
- Volkswagen to Triple China Sales by 2018
- China Should Stop Property Stimulus Now: Central Bank
Text Size 
Former Home Depot CEO Bob Nardelli has been offered a position at the private-equity fund Cerberus Capital, but Nardelli's former employer is balking at letting him accept the job, CNBC's Charlie Gasparino has learned.
 |
Tami Chappell / AP Former Home Depot CEO, Robert L. Nardelli. |
While Nardelli may be persona non grata in the public markets following his controversial tenure at HomeDepot, he's having no problem attracting the attention of private-equity firms looking for seasoned managers to run companies in their portfolios, Gasparino said.
Nardelli was recently offered a position by Cerberus, a low-profile but highly profitable investment fund with around $24 billion in assets, including ownership stakes in car rental companies like Alamo, and in retail chains like Mervyn's.
On its face, Cerberus would look like a perfect fit for Nardelli, Gasparino said. The firm and its CEO Stephen Feinberg keep a low profile compared with competitors like Blackstone and Kohlberg Kravis Roberts.
Nardelli is considered a brilliant operator of businesses, Gasparino said, but among the reasons Nardelli was forced out at HomeDepot earlier this year was his difficulty dealing with the press.
Neither Cerberus, HomeDepot or Nardelli would comment on the matter. But by balking at Nardelli's move, it shows just how much the controversy over his $200 million payout has touched a nerve inside Home Depot, Gasparino said.
As reported earlier by CNBC, both lead director Ken Langone, and Jack Welch--Nardelli's former boss during his years at General Electric--attempted to get Nardelli to accept a reduction in the money. Nardelli refused and was asked to leave the firm.
When news of the $200 million payout in his contract was made public, HomeDepot was hit was another wave of negative publicity. One source told Gasparino that officials at Home Depot are worried about another round of publicity if the company allowed Nardelli to take a high-paying job, particularly with a company that's a competitor.
Print
Email
- Warren Buffett and Bill Gates discuss the economy and other subjects with CNBC's Becky Quick.
- Many people are facing the holidays with substantially smaller incomes. Here’s how some are adapting.
- The show attracts a big TV audience every year, but this year it may take on even more importance.
- Jim Cramer is a proponent of stocks that pay healthy dividends, and here are his top five dividend plays.
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
- From salt, to lip balm to envelopes, it turns out that bacon flavoring can sell almost anything.
Data is a real-time snapshot *Data is delayed at least 15 minutes