New Home Depot CEO Could Earn $8.9M

Atlanta, The Home Depot Inc.'s new CEO could earn as much as $8.9 million in total compensation this year, the retailer said in a regulatory filing Wednesday. Frank Blake's compensation is smaller than the roughly $24 million a year on average that former CEO Robert Nardelli received.

According to Wednesday's filing with the Securities and Exchange Commission, Blake will earn a base salary this year of $975,000. He also could be entitled to a management incentive-plan award equal to double his base salary and a long-term incentive award equal to his base salary.

The filing says Blake's compensation for 2007 also includes up to $5 million in equity in the company based on how Home Depot's share price performs and the amount of total shareholder return.