Acquired · Monday, September 14, 2026
During Bob Nardelli's tenure as CEO (2000-2007), Home Depot experienced rapid revenue growth but saw a significant decline in customer satisfaction. Nardelli implemented operational efficiencies, reduced headcount, and de-emphasized the knowledgeable associate model, leading to widespread criticism and a stock price decline, culminating in his ousting.
“So Nardelli comes in as the new Home Depot CEO, and to the outside world, this looks like a huge win.”
“So a couple of years into Nardelli's tenure, customer satisfaction among Home Depot shoppers falls to the lowest level of any major US retailer.”
“Nardelli changes the criteria for store managers, now preferring candidates with college degrees.”
“Bob Nardelli has become this year's version of Mr. Overpaid CEO.”