Home Depot CEO Ted Decker Takes Temporary Medical Leave

Home Depot CEO Ted Decker is taking a "temporary medical leave of absence" for the next few months and the company has appointed two top deputies to lead until he returns, the retailer announced Wednesday.

Ann-Marie Campbell, Home Depot's senior executive vice president of U.S. stores and operations, will oversee day-to-day operations while finance chief Richard McPhail will run financial management and the Pro business, the company said.

Lead independent director of the board, Greg Brenneman, will take over as chair of the board during Decker's leave. The board of directors made the appointments but they were "in alignment with Decker's recommendation," the company said.

"The Home Depot has the best management team in retail. Both Ann-Marie and Richard are strong, seasoned executives who have worked together for more than 20 years," Brenneman said in a news release. "We are confident in Ann-Marie's and Richard's ability to lead the company during this time, and we look forward to Ted's return."

The announcement comes just under a week before the company is set to announce fiscal second-quarter earnings on Tuesday. Home Depot didn't provide further details on Decker's condition.

Campbell, 61, has worked for Home Depot since 1985, starting as a cashier before working her way up to EVP of stores and operations. McPhail, 56, has been Home Depot's chief financial officer since September 2019 and joined the company in 2005.

Both of the executives aren't receiving additional pay for taking on the increased responsibilities, according to a securities filing.