Home Depot CEO Ted Decker is taking a temporary medical leave of absence, the company announced on Wednesday.
The home improvement retailer expects Decker, who also serves as chair and president, to return "within the next few months," according to a Home Depot news release.
During his absence, Senior Executive Vice President Ann-Marie Campbell will oversee Home Depot’s day-to-day operations. Chief Financial Officer Richard McPhail will oversee Home Depot's financial management and the company’s Pro subsidiaries.
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Independent lead director Greg Brenneman will chair Home Depot’s board while Decker is on leave.
"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," Brenneman said in a statement. "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."
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Campbell has been Home Depot’s senior executive vice president since November 2023 and began her career at the company as a cashier in 1985, according to an SEC filing.
McPhail has served as the company’s CFO since 2019 and joined Home Depot in 2005.
"At this time, no changes have been made to Ms. Campbell or Mr. McPhail’s compensation related to their assumption of the responsibilities of the Office of the CEO," the filing noted.
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At the end of its first quarter, Home Depot operated 2,361 retail stores and more than 1,280 SRS locations across the U.S., Canada and Mexico. The company employs more than 470,000 associates.
FOX Business reached out to Home Depot for more details.