Home Depot CEO Ted Decker on Temporary Medical Leave, Two Executives to Lead

What Happened

Home Depot announced that its CEO, Ted Decker, is taking a "temporary medical leave of absence." The company expects his leave to last for the next few months. During this period, two senior executives will lead the retailer. Ann-Marie Campbell, the senior executive vice president of U.S. stores and operations, will manage daily operations. Richard McPhail, the chief financial officer, will oversee financial management and the Pro business. Greg Brenneman, the lead independent director, will serve as chair of the board.

These appointments were made by the board of directors and were consistent with Decker's recommendations. The company did not provide further details regarding Decker's medical condition. Campbell is 61 years old and has been with Home Depot since 1985, while McPhail, 56, has served as CFO since September 2019 and joined the company in 2005.

Background

The company is scheduled to release its fiscal second quarter earnings next Tuesday. This leadership transition occurs less than a week before that announcement.

Key Facts

• Home Depot CEO Ted Decker is taking a temporary medical leave of absence.
• The leave is expected to last for several months.
• Ann-Marie Campbell will oversee U.S. stores and operations.
• Richard McPhail will manage financial management and the Pro business.
• Greg Brenneman will serve as interim chair of the board.
• The appointments align with Ted Decker's recommendations.
• Campbell is 61 and has been with Home Depot since 1985.
• McPhail is 56 and has been CFO since September 2019.
• Campbell and McPhail will not receive additional pay for their expanded roles.
• Home Depot will announce its fiscal second quarter earnings next Tuesday.