Home Depot names longtime executive as new CEO

By AP News

Share:

In this article

  • Loading...
  • Want to see what you should be buying? Check out our top picks.

The Home Depot on Thursday named a veteran executive as its new CEO.

FILE - A Home Depot logo sign hands on its facade, Friday, May 14, 2021, in North Miami, Fla. he Home Depot on Thursday, Jan. 27, 2022, named a veteran executive as its new CEO. Edward “Ted” Decker, who has served as Home Depot’s chief operating officer since October 2020, will become president and CEO on March 1. (AP Photo/Wilfredo Lee, File)

The Home Depot on Thursday named a veteran executive as its new CEO.

Edward “Ted” Decker, who has served as Home Depot’s chief operating officer since October 2020, will become president and CEO on March 1. Current Chairman and CEO Craig Menear will continue to serve as the company’s board chairman.

Decker, 58, joined Atlanta-based Home Depot in 2000. He has held roles in finance, business development and merchandising.

“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, 64, said in a statement. “I have tremendous confidence that he will guide our company to new heights.”

Home Depot’s sales surged in 2020 as the pandemic kept people indoors and itching to do home improvement projects. More recently, sales have been boosted by the strong housing market.

Home Depot reported sales of $115 billion in the first three quarters of 2021, up 15.6% from the prior year. The company operates 2,317 stores in the U.S., Canada and Mexico.

Home Depot shares were flat in after-market trading.

Share:

In this article:

Industries:
Industrials
Companies:
Home Depot

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for Investing Intel Newsletter