Home Depot announced that Chief Executive Officer Ted Decker would take a temporary medical leave of absence lasting several months, effective immediately. The company’s board of directors designated two senior executives to assume leadership responsibilities during this period.
Ann-Marie Campbell, who serves as senior executive vice president of U.S. stores and operations, will assume responsibility for overseeing the company’s day-to-day operations. Richard McPhail, the company’s chief financial officer, will manage financial operations and the Pro business division. Greg Brenneman, the board’s lead independent director, will assume the position of board chair during Decker’s leave.
The appointments were made by the board of directors with input from Decker himself, according to a company statement. Brenneman expressed confidence in both executives’ capabilities, noting that they represent the strongest management team in the retail sector and have collaborated for more than two decades. The company indicated that Decker is expected to resume his position following his recovery.
Campbell has been with Home Depot since 1985, initially working as a cashier before advancing through various roles to reach executive leadership. McPhail joined the company in 2005 and has served as chief financial officer since September 2019. Neither executive will receive additional compensation for their expanded responsibilities during this interim period, as indicated in company filings.
The announcement was made earlier in the week, preceding the company’s scheduled earnings report for the fiscal second quarter, which is expected to be released later in the week.
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