Home Depot's Decker Steps Down Temporarily Amid Health Reasons

Home Depot's CEO, Ted Decker, has taken a temporary medical leave of absence from his duties at the company's Cobb County headquarters. The 63-year-old executive will be temporarily stepping down due to health reasons. In a statement, Home Depot confirmed that Decker's temporary absence is due to a medical condition, but did not disclose further details.

The board of directors has appointed two veteran executives, Ann-Marie Campbell and Richard McPhail, to manage key duties during Decker's absence. Campbell will oversee daily store and retail operations, while McPhail will handle financial management alongside the company's professional business divisions. Lead Director Greg Brenneman will lead board meetings in Decker's place.

According to Barron's, shares of Home Depot dropped 2.35% following the announcement of Decker's temporary absence. Lowe's stock also saw a decline, dropping 2.6%. The company has not provided an exact date for Decker's return, but expects him back within a few months.