So let me start by saying that I totally don’t get this whole CEO thing. They get paid big, big bucks and frequently don’t do anything. I’m not a believer that the one person at the top makes that much difference. Hopefully it won’t for Chrysler.
In there wisdom Cerberus, Chrysler’s new owner, appointed the ex-CEO of Home Depot to run the turnaround of their newest acquisition. This is the man who managed to let Home Depot lose 8% of its stock value during an unprecedented housing boom and at the same time Lowes (a company with stores basically across the street from every Home Depot, selling the same stuff) is going gangbusters. And for this he gets a huge golden parachute on his way out.
Supposedly they hired him for his turnaround expertise. He sure turned Home Depot around (glad I don’t own their stock). His pay this time is linked to the company performance. So if you see a man in a brand new Chrysler begging for quarters just say “sorry Bob, why don’t you get a real job”.
from MarketPlace
