Home Depot shareholders want to stop the payout package that ex-CEO Robert Nardelli is going to get. They've filed an injunction to stop the payments all together. So far--there' s no ruling yet on the legal action. Nardelli resigned his post last week--leaving with a rather large $210 million severance deal (including a cash payment of $20 million).
Remember--that the severance deal was part of Nardelli's employment package when he was hired. It's not really a surprise. However-that's not quieting HD shareholders. The major reason they are upset-the price of HD stock has been struggling lately--and they don't see why Nardelli should be leaving with so much money.
Nardelli's severance deal (and other CEO deals) come at a time when many workers are being forced to cover a lot more of their own retirement costs and health care benefits. Case in point--according to the U.S. Bureau of Labor Statistics, fewer than half of all workers receive any retirement benefits from their employers.