Home Depot's CEO, Ted Decker, would take a medical leave whose duration is estimated at a few months, according to Retail Dive. The group's board of directors approved its recommendations for a temporary leadership tasked with overseeing the functions of the CEO's office, according to a regulatory filing submitted Wednesday with the US SEC.
Ann-Marie Campbell, senior executive vice president, will lead the retailer's day-to-day operations. CFO Richard McPhail will, for his part, oversee the group's financial management as well as the Pro subsidiaries. According to Greg Brenneman, lead independent director who will become chairman of the board during Ted Decker's absence, the two executives have worked together for more than twenty years.
Two long-standing internal career paths
Ann-Marie Campbell began her career at Home Depot in 1985 as a cashier, before holding several leadership positions, including president of the Sud division and executive vice president of US stores and international operations. Richard McPhail, CFO since 2019, previously served as senior vice president of finance and senior vice president of finance control and administration.
The store, supply chain and Pro product teams now report to chief technology officer Fran Bell. According to the regulatory filing, Campbell's and McPhail's compensation will not change as a result of temporarily taking on CEO responsibilities.
A busy calendar
L'annonce comes about two weeks after a reorganization of the retailer's technology team, undertaken to accelerate innovation and gain market share. Home Depot is due to publish its second-quarter results on Tuesday, an event that will take place under this new leadership configuration.
