Home Depot general counsel, human resources executive resign

<p>The Home Depot Inc., the world's largest home improvement store chain, said Thursday that its general counsel, Frank Fernandez, and the executive vice president of human resources, Dennis Donovan, have both resigned, effective Feb. 14.</p><p>The company did not give a reason for the resignations.</p><p>Each man will receive $2.96 million cash severance. In addition, each will receive the full value of shares in the company that they accrued between 2001 and 2006. The current value of those shares is roughly $16.5 million for Fernandez and roughly $17 million for Donovan, Home Depot spokesman Jerry Shields said.</p><p>The resignations follow the departure last month of Chief Executive Bob Nardelli, who was replaced by Home Depot's vice chairman, Frank Blake.</p><p>"We thank both Frank and Dennis for their commitment to the company during their tenure here, and we are grateful for their service to The Home Depot. We wish them well in the future," Blake said in a statement.</p><p>Home Depot said it has named Jim Snyder, vice president of litigation and risk management, as the interim head of its legal department. Before joining Home Depot, Snyder was a partner at law firm King & Spalding in Atlanta.</p><p>Donovan is being replaced by Tim Crow, who was most recently senior vice president of talent, organization and performance systems. Crow worked in various retail positions for Sears, Roebuck & Co. and Kmart before joining Home Depot in 2002.</p><p>Nardelli, meanwhile, had resigned amid a furor over shareholder ire at his hefty pay and the company's declining stock price.</p><p>Home Depot shares fell about 2 cents to $40.89 in electronic after-hours activity Thursday. During regular trading hours on the New York Stock Exchange, the shares rose 34 cents to $41.08.</p>

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