Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO beginning March 1.
The retailer’s current CEO, Craig Menear, 64, will continue to serve as chair of the board. Menear has been at the retailer for more than 20 years and began as CEO in November 2014.
Home Depot has seen tremendous growth during the pandemic. That growth has continued, including in the most recent quarter, even as some consumers hired home professionals in lieu of do-it-yourself projects.
Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. He previously served as chief merchant and executive vice president of merchandising. He became president and COO in October 2020.
“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,” Menear said in a news release. “I have tremendous confidence that he will guide our company to new heights.”
