Home Depot Appoints Company Veteran As Its New Chief Executive

Home Depot’s Chief Operating Officer Ted Decker will be taking over the helm of the company starting March 1, 2022.

The company’s current CEO, Craig Menear, who has been with Home Depot for 20 years and has served as the chief executive since November 2014, will continue to serve as the board chairman.

Menear noted that Decker is the right person to fill the role given his 22 years of experience working for the company in a range of key roles.

“His ability to blend the art and science of retail is exactly what is needed in the next phase of growth for The Home Depot,” Menear said in a press release. “I have tremendous confidence that he will guide our company to new heights.”

Decker rose through the ranks at Home Depot since he joined the company in 2020. He has experience working as the chief merchant and executive vice president of merchandising and as the company’s COO and president since October 2020.

The change in leadership at Home Depot comes at a time when the company is enjoying continued momentum in sales, with consumers still spending money on home improvement. However, due to rising inflation, the increase in cost of living is likely to impact its ability to sustain sales in the coming months.

On Thursday, the company’s stock closed at $356.43, down less than 1%.

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Originally published at https://retailbum.com on January 28, 2022.