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The Home Depot CEO Nardelli Receives Hunt-Scanlon's 2006 Human Capital Advantage Award
STAMFORD, Conn., September 6, 2006 - Hunt-Scanlon Advisors, the market research firm and online information provider to the human capital and executive recruiting industries, today announced that Robert Nardelli, chairman, president & CEO of The Home Depot, has been named the 2006 recipient of the Hunt-Scanlon Human Capital Advantage Award.
The annual award recognizes a leading U.S. executive who demonstrates an extraordinary commitment to human capital management initiatives and has led his or her organization to long-term sustainable success. Mr. Nardelli accepted the award at Hunt-Scanlon's "Talent Management Strategies for Long-Term Success" talent management conference for executives in human resources and recruitment, to be held Oct. 18 and 19 at The New York Palace Hotel.
"On behalf of The Home Depot's human resources department, it is an honor to receive the Hunt- Scanlon Human Capital Advantage Award," said Mr. Nardelli. "At The Home Depot, we believe our greatest competitive advantage is our associates, and effectively managing our workforce is critical. Being recognized for our commitment to human capital management is a testament to our philosophy."
Soon after Mr. Nardelli's arrival at The Home Depot in late 2000, the company underwent a transformation to position itself for future growth. One of the first moves was to name Dennis Donovan, a former colleague of Mr. Nardelli's at GE, as executive vice president of human resources. Mr. Donovan reports directly to Mr. Nardelli and provides advice on matters of talent.
Under Mr. Nardelli's leadership, the company invested heavily in information technology and upgrades to The Home Depot's operational infrastructure. The company centralized store management to improve purchasing and logistical efficiencies and allowed managers to focus on customer care and store quality. The Home Depot implemented innovative programs to attract, motivate and retain associates, including devising new compensation structures that rewarded performance by tying salaries to an employee-rating system. To develop a pipeline of future leaders, the company created a leadership institute to groom high-potential managers, teaching them all aspects of merchandising, management and Six Sigma.
Since 2000, the company's strategy under Mr. Nardelli has helped The Home Depot increase sales by nearly 80 percent to $81.5 billion in revenue. Earnings per share (EPS) have increased by approximately 150 percent over the last five years, and The Home Depot is one of two companies in the Dow Jones industrial average to achieve more than 20 percent EPS growth each year for the last four years. Since Mr. Nardelli's team began the transformation, the efforts have earned the company a No. 1 ranking on FORTUNE magazine's list of Most Admired Specialty Retailers for the past two years, and Institutional Investor's No. 1 choice for top shareholder-friendly company in hardlines retail.
"The success The Home Depot has experienced in recent years is due to the remarkable transformation Bob Nardelli led since he arrived in 2000," said Joe Palmer, senior vice president of Hunt-Scanlon Advisors. "He applied proven management disciplines, assembled a winning management team around him, and executed to the benefit of customers, employees and shareholders."
Mr. Nardelli is the sixth recipient of the Human Capital Advantage Award. Past winners include Indra Nooyi, president and COO of PepsiCo, who will become CEO on Oct. 1; Hank McKinnell, chairman and CEO of Pfizer; William Wrigley Jr., chairman and CEO of The Wrigley Co.; Michael J. Critelli, chairman and CEO of Pitney Bowes, Inc.; and Roger Farah, president and COO of Polo Ralph Lauren.
Click here to read the transcript from his acceptance speech.
To learn more about how Robert Nardelli's management philosophy has impacted The Home Depot, we recommend you read Ram Charan's recent article in Harvard Business Review entitled Home Depot's Blueprint for Culture Change.
For more information about the Human Capital Advantage Award and this event, visit www.huntscanlonconferences.com.
The Home Depot®
is the world's largest home improvement specialty retailer, with 2,082 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, 10 Canadian provinces and Mexico. Through its HD SupplySM businesses, The Home Depot is also one of the largest diversified wholesale distributors in the U.S., with more than 900 locations in the U.S. and Canada offering products and services for building, improving and maintaining homes, businesses and municipal infrastructures. In fiscal 2005, The Home Depot had sales of $81.5 billion and earnings of $5.8 billion. The company employs approximately 355,000 associates and has been recognized by FORTUNE magazine as the No. 1 Most Admired Specialty Retailer and the No. 13 Most Admired Corporation in America for 2006. The Home Depot s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
About Hunt-Scanlon
Hunt-Scanlon Advisors is the leading and most-respected source of news, information and analysis on the human capital industry for executives in human resources, recruitment, diversity and professional services. Through our print, interactive and conference divisions, we cover human capital strategies and trends of the Fortune 1000 and the companies that deliver them valuable recruitment, talent management and diversity products and services that help them succeed. Our information resources are used by executives, researchers and analysts for market intelligence and for making purchasing decisions. For more company information, visit us at
www.hunt-scanlon.com or email Joe@hunt-scanlon.com
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