In a move sure to please the readers of this particular blog, Robert “Big Bob” Nardelli the CEO of Home Depot has resigned today. From the New York Times:

“Under Mr. Nardelli, the Home Depot shifted its focus somewhat away from selling lumber and lights to do-it-yourself consumers and more toward providing pipe and cement to contractors and professionals.”

This goes a long way toward explaining the mountains of angry emails about Home Depot we receive each week . Under Mr. Nardelli the company spent spent $7 billion beefing up Home Depot Supply, the unit that caters to the building trade. This strategy did not improve the company’s stagnant stock price. The news of Nardelli’s departure had stocks up sharply during early trading. —MEGHANN MARCO

Embattled Chief Executive Resigns At Home Depot [New York Times]

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