Home Depot announced that Chief Executive Officer Ted Decker will take a temporary medical leave of absence lasting several months, with two senior company executives sharing operational responsibilities in his absence.
Ann-Marie Campbell, who serves as senior executive vice president of U.S. stores and operations, will assume oversight of day-to-day company operations. Richard McPhail, the company’s chief financial officer, will manage financial operations and the Pro business division. The board of directors made these appointments with the endorsement of Decker, according to the company statement.
Greg Brenneman, the lead independent director of the board, will assume the role of board chair during Decker’s leave. Brenneman expressed confidence in both executives, noting that both Campbell and McPhail are experienced leaders who have worked together for more than two decades. The board stated that Home Depot possesses a strong management team capable of handling leadership transitions.
Campbell has been with Home Depot since 1985, beginning her career as a cashier and advancing through various roles to reach her current executive position. 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 duties during this period, according to regulatory filings.
The announcement comes less than a week before the company is scheduled to release its fiscal second-quarter financial results. Home Depot did not disclose specific details regarding Decker’s medical situation.
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