Carney Quoted in Home Depot ArticleBy: Deborah L. Plute
William J. Carney, Charles Howard Candler Professor of Law, was quoted in the June 6th Daily Report on Home Depotís recent annual meeting. The meeting was widely criticized by corporate governance experts and was followed by three shareholder lawsuits filed in Fulton County Superior Court against chairman and CEO Robert Nardelli and the companyís board of directors.
Central to the suits is what the plaintiffs call Nardelliís "unreasonable compensation" of $245 million over five years during which the companyís stock price fell 12 percent. Carney reviewed the suits that include conflict of interest claims. He does not think that the court can act on them. If the board makes bad decisions, "donít re-elect them," said Carney. "Thatís the remedy."
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