Ex-Home Depot CEO joins cannabis grow-supply firm GrowGeneration
Published July 10, 2019
Bob Nardelli, who doubled the size of Home Depot while the company’s CEO from 2000 to 2007, will serve as a strategic adviser to GrowGeneration Corp., the Denver-based cannabis cultivation company announced Wednesday.
Nardelli’s role at GrowGeneration – whose retail hydroponic and organic gardening stores serve cannabis growers across the U.S. – is to investigate partnerships that will increase the value of each division.
He also will advise on:
- Improving the supply chain
- New product introductions
- Channel selection
Nardelli will report to GrowGeneration CEO Darren Lampert and the company’s board.
“We see many direct parallels from Bob’s Home Depot experience that we can apply to GrowGen’s growth plans and strategies,” Lampert said in a statement.
Nardelli, who was paid $223 million by Home Depot when he stepped down as its CEO, doubled the size of the company’s annual revenues to about $90 billion during his tenure.
He joins the ranks of executives from mainstream companies such as Kellogg who recently have entered the cannabis industry.
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2 comments on “ Ex-Home Depot CEO joins cannabis grow-supply firm GrowGeneration ”
I am an inventory appraiser who works primarily with lenders who use inventory as collateral for loans. We have been active in this inventory for quite some time. Though lenders are not ready to lend on marijuana, they may soon get involved with CBD. My question is this. Currently there is not enough Hemp supply in the entire world to support the expansion planned by you and the various fortune 500 companies. Second, the supply that will be available next year will still have credibility issues with many of the farmers and converters involved. How can you even come close to meeting your goals.
OK time to sell this company short. After quitting GE in a huff Because he was told he wasn’t QUALIFIED to lead the company, he was hired by buddies on the board at HOME DEPOT. Just before he came on board the stock was around $52.00. After an absolute disastrous term he was paid 210 million dollars to go home. the stock price was at around $40.00 and had been as low as $20. Then this kiss of death became the CEO at CHRYSLER after driving it into the ground (again making millions for himself and his partners) he left it so bankrupt that it had to be bailed out by Fiat. This guy is now and has always been about whats in it for me. NOT about the company, shareholders or anything else.
Bob Nardelli, the ex-Home Depot CEO, will serve as a strategic adviser to GrowGeneration Corp., the Denver-based cannabis cultivation company.