Robert Nardelli

Robert Louis "Bob" Nardelli (born May 17, 1948) is an American businessman who was the CEO of Freedom Group from September 2010 to March 2012.

Before joining The Home Depot, Nardelli spent most of his career at General Electric and had risen to become one of the top three executives competing to succeed Jack Welch.

When Jack Welch retired as chairman and CEO of GE, a lengthy and well-publicized succession planning saga ensued.

About ten minutes after Welch let him go, Nardelli received a job offer from Ken Langone, who at the time was on the board of directors of both GE and The Home Depot.

Using the Six Sigma management strategy used at GE, he dramatically overhauled the company and replaced its entrepreneurial culture of innovative product design with one focused on relentless cost-cutting.

He also installed processes and streamlined operations, most notably implementing a computerized automated inventory system and centralizing supply orders at the headquarters.

[14] On December 4, 2008, in an appearance on CNN's The Situation Room with Wolf Blitzer, Nardelli was asked, "So what do you say about the argument that the Japanese, the Germans, Koreans make better cars than the Americans?"

[16] On April 21, 2009, it was alleged by an unnamed "federal watchdog agency" that a $750 million loan from the government was turned down, on the grounds that it would have required that executive compensation be capped.

According to contemporary media coverage "as part of the economic stimulus package, Congress approved compensation limits, and the Treasury is working on clarifying what the firms must do to comply with the rules.

The same day, Nardelli announced that he would leave the company as soon as the bankruptcy was over and his replacement was announced—later determined to be Sergio Marchionne[18]—who would likely face a pay cap.

In March 2012, he stepped down as CEO of the Freedom Group, and as the head of the operations and advisory business of Cerberus Capital Management LP.