Home Depot CEO Ted Decker Takes Medical Leave; Two Executives Named to Lead

Home Depot Chief Executive Ted Decker will take temporary medical leave for a period of several months. The company has appointed two senior executives to jointly oversee operations during his absence. Home Depot announced on Wednesday that Ann-Marie Campbell, Senior Executive Vice President of US Stores and Operations, will manage day-to-day operations, while Chief Financial Officer Richard McPhail will oversee financial management and the professional business segment. Greg Brennan, the board's Lead Independent Director, will serve as Board Chair while Decker is on leave.

In a securities filing, Home Depot disclosed that Campbell and McPhail will not receive additional compensation for their expanded responsibilities. Campbell, 61, joined Home Depot in 1985 as a cashier and rose to her current role as Senior Executive Vice President of Stores and Operations. McPhail, 56, joined the company in 2005 and has served as Chief Financial Officer since September 2019. The company did not provide further details regarding Decker's health condition.

The appointment announcement comes less than a week before the company is scheduled to release its second-quarter earnings, which are due next Tuesday. Home Depot said its management team is highly experienced in the retail industry, noting that the two appointed executives have worked together for more than two decades. The company expressed confidence in their ability to lead operations during this period and looks forward to Decker's return.