Home Depot names veteran exec as its new CEO
The chief operating officer of Home Depot is getting a new job.
The home improvement giant named Edward "Ted" Decker as CEO and president, effective March 1. Decker, a 22-year Home Depot veteran, will succeed Craig Menear, who will continue to serve as chairman.
Decker, 58, joined The Home Depot in 2000 and was named president and COO in October 2020, where he was responsible for global store operations, global supply chain, outside sales and service, real estate, as well as merchandising, marketing and online strategy, serving Pro and DIY customers in stores and online. Previously, Decker served as chief merchant and executive VP of merchandising, where he was responsible for all store and online merchandising departments, merchandising strategy, vendor management and services, and in-store environment.
“As a 22-year associate of The Home Depot, Ted has nurtured our culture by living our values and demonstrating servant leadership throughout his career," said Menear. "Ted has grown with the company by taking on expanded roles of leadership from his time in strategic business development, finance and merchandising to leading our day-to-day interconnected operations in his role as president and COO. 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. I have tremendous confidence that he will guide our company to new heights."
Menear has been CEO of Home Depot since November 2014. Prior to that, he served as the company’s president, U.S. retail.
“On behalf of the board, I want to thank Craig [Menear] for his exceptional leadership over the last seven years," said Greg Brenneman, the board's lead director. "Among Craig's many accomplishments, he has built a world-class leadership team, driven a bold strategic vision focused on the interconnected retail experience, and delivered outstanding results for our shareholders – all while fostering The Home Depot's unique, values-driven culture. We are fortunate to have a strong successor in Ted and look forward to working with him and the entire Home Depot management team as the business enters its next phase of growth."
At the end of the third quarter, the Home Depot operated a total of 2,317 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.