Word: nardelli
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...summers were hot in western Illinois, but for Bob Nardelli they were also a month too short. "We didn't have a lot of money in those days," says Nardelli, who went to college on a football scholarship and had to start training in August. "I only had two months to work. You had to have jobs that paid well." His solution? "I worked road construction. One year we laid concrete highways. Next summer I worked asphalt." Nardelli's road-crew summers toughened the soles of his feet and taught him a lesson he would never forget: take the most...
Love him or scorn him: Richard Grasso, chief of the New York Stock Exchange (N.Y.S.E.), is drawing strongly mixed signals of affection and rejection these days. At a civic function in New York City last week, Robert Nardelli, head of Home Depot, told Grasso that he would love to have him on his board--again--if he ever leaves the exchange. While Nardelli was wooing Grasso, seat holders at the exchange were doing their level best to make the N.Y.S.E. boss available, drumming up support for a special meeting that could lead to Grasso's resignation...
Immelt jumped a big hurdle in getting the job. Succession is practically papal at GE--Immelt is only the ninth chairman in the company's 123-year history--and a close three-way race emerged among Immelt and two other senior executives, Robert Nardelli, 52, and W. James McNerney Jr., 51. Immelt was the youngest of the three, and the fact that he could serve as CEO for two decades may have nudged him ahead. As for the losers, within weeks they were running FORTUNE 500 companies. Nardelli took over retailer Home Depot, and McNerney now heads 3M, a tech...
...since the French Revolution have so many executive heads rolled--courtesy of falling profits and stock prices and impatient boards--leaving vacancies strewn all over the FORTUNE 500. Maytag, 3M, Lucent and Gillette are among the headless, and any one of them could rain instant millions on Nardelli or McNerney or similarly qualified executives...
Indeed, Welch, who will be with GE another year, seems to have already said his goodbyes. "You can be sure that they're being pursued very aggressively on the outside and are evaluating their options," he said of Nardelli and McNerney while announcing that Immelt will be his successor. It was as though he wanted to start a bidding war. Was that the consolation prize...