Home Depot Names Company Veteran Ted Decker as its New Chief Executive

Home Depot announced this week that COO Ted Decker will be stepping into the role of CEO of the company as of March 1st.

Decker will be replacing outgoing CEO Craig Menear, who will still serve as chair of the board.

Menear, 64, 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, as a strong housing market and home improvements inspired Americans to hit the home improvement retailer.

Even before the pandemic, Home Depot was making significant investments in its supply chain and e-commerce business. In 2018, the company began spending $1.2 billion to open about 150 supply chain facilities over five years. The company also expanded its distribution network, with the goal of offering same-day and next-day delivery to 90% of the U.S. population.

Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth.

Decker, 58, joined 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.”

Home Depot shares are up about 30% over the past 12 months.

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