Home Depot (NYSE:HD) announced that chair, president and chief executive officer Ted Decker is taking a temporary medical leave of absence, with the retailer expecting him to return to his duties within the next few months.
The company has put an interim leadership structure in place to oversee operations and financial management while Decker is away.
Campbell and McPhail to oversee CEO responsibilities
Following a recommendation from Decker, Home Depot’s board appointed two senior executives to jointly manage the office of the CEO during his absence.
Ann-Marie Campbell, senior executive vice president, will take responsibility for the company’s day-to-day operations. Richard McPhail, executive vice president and chief financial officer, will oversee financial management as well as Home Depot’s Pro subsidiaries.
Greg Brenneman, the company’s independent lead director, will serve as chair of the board for the duration of Decker’s leave.
“The Home Depot has the best management team in retail. Both Ann-Marie and Richard are strong, seasoned executives who have worked together for more than 20 years,” Brenneman said. “We are confident in Ann-Marie’s and Richard’s ability to lead the company during this time, and we look forward to Ted’s return.”
Home Depot maintains extensive North American network
Home Depot operates 2,361 retail stores alongside more than 1,280 SRS locations across its markets.
Its network spans all 50 U.S. states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam, as well as 10 Canadian provinces and Mexico.
The home improvement retailer employs more than 470,000 associates across its operations.
Home Depot shares are components of both the Dow Jones Industrial Average and the S&P 500 index, making the company’s temporary leadership arrangements relevant to a broad range of U.S. equity investors.
Home Depot stock price
