The Home Depot, the world’s largest home improvement retailer, has announced that Chair, President and CEO Ted Decker will take a temporary medical leave of absence.
The company said it expects Decker to return within the next few months.
The board of directors, in alignment with Decker’s recommendation, has chosen two long-time Home Depot executives to oversee the operations of the office of the CEO during his absence. Ann-Marie Campbell, senior EVP, will provide oversight of Home Depot’s day-to-day operations, while Richard McPhail, EVP and CFO, will provide oversight of the company’s financial management and Pro subsidiaries. In his role as independent lead director, Greg Brenneman will chair the board during Decker’s leave, explained the company.
“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,” said Brenneman. “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.”
At the end of the first quarter, the company operated a total of 2,361 retail stores and over 1,280 SRS locations across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs over 470,000 people.
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