Home Depot Settles Proxy Fight With Relational

Law360, New York (February 6, 2007, 12:00 AM EST) -- Home Depot said Monday that it has reached an agreement with one of its lead shareholders, thus ending a proxy battle that erupted after the company’s former CEO Robert Nardelli collected a $210 million severance package.

As part of the agreement, David H. Batchelder, a principal of Relational Investors LLC, will join Home Depot’s 11-member board of directors on Feb. 22. In return, Relational acquiesced to drop its proxy contest against the home improvement retailer.

“We have been actively listening to our shareholders and look forward...
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