Home Depot CEO to take temporary medical leave for a few months

Home improvement chains such as Home Depot and Lowe's have been investing in growing their professional business catering to contractors and builders as inflation pressures force consumers to defer smaller projects.

Aug. 12 (Reuters) - Home Depot said on Wednesday CEO Ted Decker will take a temporary medical leave of absence and is expected to return within the next few months.

Finance chief Richard McPhail and senior executive vice president Ann-Marie Campbell will oversee CEO operations during Decker's absence, the home improvement chain said in a statement.

The interim appointments were made in alignment with Decker's recommendation, the company added.

Home Depot did not immediately respond to a Reuters request for comment on further details about Decker's leave of absence. The company reports quarterly results on August 18.

Decker, aged 63, took over as Home Depot's CEO in March 2022. He joined the company in 2000, and has also held senior roles in merchandising and retail finance.

Campbell, aged 61, joined Home Depot in 1985, and has held several senior roles across its U.S. business. McPhail, aged 56, has been with Home Depot since 2005, and has been its CFO since September 2019.