Home Depot: Relational Investors Joins Board

Activist fund Relational Investors scores a board seat in its fight with Home Depot (HD). Will it help the stock?

Late Monday, The Home Depot and Relational Investors LLC announced they reached an agreement on corporate governance matters. As part of the agreement, David H. Batchelder, a principal of Relational, will join The Home Depot board of directors on February 22, 2007, and Relational has agreed to drop its proxy contest.
Batchelder also will be appointed to the Leadership Development and Compensation Committee and to the Audit Committee.