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Home Depot Stock Tumbles After Surprise Leadership Departure

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Home Depot's stock took a hit after CEO Craig A. Menear announced his departure from the company, effective immediately.

The news was met with a decline in stock value, exceeding the broader market's performance Wednesday, with the Consumer Discretionary sector down 1.2% while the S&P 500 gained 0.2%.

Interim leadership has been put in place, with Ann-Marie Campbell taking on day-to-day operations and Richard McPhail overseeing financial management and Pro subsidiaries.

The company's leadership expects Ted Decker to return within the next few months.

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