Home Depot CEO Takes Medical Leave
Ted Decker to step away for a few months, with Ann-Marie Campbell and Richard McPhail overseeing operations and finance in his absence
Home Depot CEO Ted Decker is taking a temporary medical leave of absence for a few months, the company announced. During his leave, Ann-Marie Campbell and Richard McPhail will oversee operations and financial management, respectively.
Campbell, Home Depot's senior executive vice president of U.S. stores and operations, will be responsible for day-to-day operations. McPhail, the company's chief financial officer since September 2019, will manage financial management and the Pro business.
Greg Brenneman, lead independent director of the board, will serve as chair of the board during Decker's leave. The appointments were made by the board of directors and are in alignment with Decker's recommendation.
Home Depot operates a vast network of 2,361 retail stores and more than 1,280 SRS locations across its markets, employing over 470,000 associates. Ted Decker has been at the helm of the company since 2022, while Ann-Marie Campbell has worked for Home Depot since 1985, starting as a cashier and working her way up to her current role.
## Why it matters The announcement comes just under a week before Home Depot is set to report its quarterly earnings. The company's stock has been affected by the news, and the temporary leave of its CEO may raise questions about the company's future direction. However, the board of directors has expressed confidence in the ability of Campbell and McPhail to lead the company during Decker's absence, citing their extensive experience and strong track record.
The company expects Decker to return within the next few months, and has not provided further details on his condition. In the meantime, Campbell and McPhail will work together to ensure a smooth transition and continue to drive the company's operations forward.
