Home Depot announced on Wednesday that CEO Ted Decker will be taking a temporary medical leave of absence. While the company did not disclose specific details regarding the nature of his health concerns, a formal news release stated that Decker, who also holds the titles of president and chair, is expected to return to his duties within the next few months.
To ensure stability during this transition, the retailer has tapped two longtime veterans to share leadership responsibilities. Senior Executive Vice President Ann-Marie Campbell will take over day-to-day operations, while Chief Financial Officer Richard McPhail will handle financial management and oversee the company’s Pro subsidiaries. Independent lead director Greg Brenneman will step in to chair the board until Decker returns.
In a statement praising the internal leadership structure, Brenneman described Home Depot as having the best management team in retail. He emphasized that both Campbell and McPhail are seasoned executives with over two decades of experience working together, expressing full confidence in their ability to guide the organization through this period. An SEC filing further clarified that neither executive would receive additional compensation for assuming these expanded roles.
The shift comes at a massive scale for the home improvement giant, which currently operates over 2,300 retail stores and more than 1,200 SRS locations throughout North America. With a workforce exceeding 470,000 associates, the company appears focused on maintaining operational continuity despite the sudden change at the top.
