Home Depot leadership shift.
Home Depot names dual interim leaders to oversee operations during CEO Ted Decker's medical leave.
Key Points
The board chose a dual-executive interim leadership arrangement rather than naming a single interim CEO, with Ann-Marie Campbell handling day-to-day operations and Richard McPhail overseeing financial functions and the Pro subsidiaries, in alignment with Decker's recommendation.
Lead independent director Greg Brenneman described the leadership pairing positively, saying, 'The Home Depot has the best management team in retail,' and expressing confidence in Campbell and McPhail to lead during Decker's absence.
The Pro business is highlighted as an important strategic focus as Home Depot expands beyond its traditional big-box retail model, with McPhail overseeing the Pro subsidiaries during the transition.
Campbell is 61 and has been with Home Depot since 1985 (starting as a cashier), while McPhail is 56 and has been the CFO since 2019; both are taking on expanded duties without additional pay.
Home Depot CEO Ted Decker, 63, is taking a temporary medical leave of absence, the company announced, with his return expected within a few months. Rather than naming a single interim CEO, Home Depot put two veteran executives in charge — a rare dual-leadership arrangement that reflects the board's confidence in its deep bench. Fox 5 Atlanta
Senior EVP Ann-Marie Campbell will handle day-to-day store operations, while CFO Richard McPhail will oversee financial functions and the company's Pro subsidiaries. Lead independent director Greg Brenneman will chair the board. The plan was made in alignment with Decker's own recommendation. CityBiz
A Dual-Executive Handoff Built on Decades of Trust
The board chose Campbell and McPhail over a single interim CEO — a deliberate decision. The two executives have worked together for more than 20 years. Brenneman praised the arrangement, saying, "The Home Depot has the best management team in retail." The board acted quickly and in step with Decker's own wishes. CityBiz
Neither executive will receive additional pay for the expanded duties. Both are taking on more responsibility without extra compensation — a detail the company made clear in its announcement. Fox 13 Seattle
Campbell: From Cashier in 1985 to Running the Stores
At 61, Ann-Marie Campbell is one of retail's longest-tenured executives. She joined Home Depot in 1985 — starting as a cashier. Now she holds the title of Senior Executive Vice President of Stores and Operations. Her four decades at the company make her one of its most experienced leaders. Fox 10 Phoenix
Campbell's job during the transition is to keep the stores running smoothly. Home Depot operates more than 2,300 locations across North America. Keeping day-to-day operations stable during a leadership gap is no small task. Atlanta News First
McPhail Takes Charge of Finances and the Growing Pro Business
Richard McPhail, 56, has served as CFO since 2019. During Decker's leave, he will manage Home Depot's financial functions and its Pro subsidiaries — the business lines aimed at professional contractors rather than everyday shoppers. The Pro segment is a key part of Home Depot's strategy to grow beyond its big-box retail roots. CityBiz
The Pro business has become a major strategic focus for Home Depot in recent years. Putting McPhail in charge of it during the transition signals how seriously the company takes that growth area. Fiscal second-quarter earnings are approaching, adding pressure to keep financial leadership steady. Fox 13 Seattle
Decker's Return Expected Within Months as Earnings Loom
The company said Decker is expected back within "the next few months." That timeline puts his return close to Home Depot's fiscal second-quarter earnings report — a high-profile moment for any CEO. The company gave no details about the nature of Decker's medical condition. Fox 5 Atlanta
Home Depot's headquarters are in Cobb County, Georgia. The company's stock and operations remain under close watch from investors. With two seasoned executives sharing the load, the board is betting that stability — not a single new face at the top — is the right call for now. Fox 10 Phoenix
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