Nardelli Resigns from Home Depot

Bob Nardelli resigned abruptly Jan. 3 as chairman and chief executive of The Home Depot Inc. (HD) after a six-year tenure that saw the world's largest home improvement store chain post big profits but left investors disheartened by poor stock performance.

Home Depot shares climbed more than 3 percent in morning trading.

Nardelli's sudden departure was stunning in that he told The Associated Press as recently as Sept. 1 that he had no intention of leaving, and a key director also said that the board was pleased with Nardelli despite the uproar by some investors.

Read the rest of the Business Week story here.