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Home Depot CEO to take medical leave ahead of Aug. 18 earnings
Home Depot said duties will be split between Ann-Marie Campbell for operations and CFO Richard McPhail for finance and Pro, as results come next Tuesday.
Home Depot said CEO Ted Decker will take a brief medical leave that is expected to last a few months, arriving just days before the company is scheduled to report fiscal second-quarter results on Aug. 18, according to Yahoo Finance.
The company emphasized that Decker has not resigned and that it has assigned two experienced executives to cover his responsibilities. Ann-Marie Campbell, senior executive vice president of U.S. stores and operations, will handle day-to-day operations, while CFO Richard McPhail will manage finance and Home Depot’s Pro subsidiaries.
For investors, the timing also centers on what the upcoming earnings release could reveal about housing affordability, consumer behavior, and demand for home renovations, all areas that can influence Home Depot’s outlook.
Home Depot is headquartered in Atlanta and operates 2,361 retail stores and 1,280-plus SRS sites at the end of fiscal Q1. The stock has a market cap of $342.4 billion, and it is down about 20% from its 52-week high of $426.75, while trading at roughly 23.6 times forward price-to-earnings and offering an approximately 2.7% forward dividend yield.