Decker Steps Down: Home Depot's CEO Takes Medical Leave

Home Depot's CEO, Ted Decker, has announced his temporary medical leave of absence from the company. The 63-year-old executive will be stepping down for a few months to focus on his health. During this time, two veteran executives, Ann-Marie Campbell and Richard McPhail, will share leadership duties at the home improvement giant.

Campbell will manage daily store and retail operations, while McPhail will handle financial management alongside the company's professional business divisions. Lead Director Greg Brenneman praised the pair's abilities, stating, 'The Home Depot has the best management team in retail.' He added that he is confident in their ability to lead the company during Decker's absence.

The news of Decker's temporary leave sent shares dropping 2.35% according to Barron's. However, Lowe's stock also saw a decline of 2.6%. The specific medical condition requiring Decker's leave has not been disclosed by the company.