Home Depot just picked a new CEO

A Home Depot store is seen in Washington, DC, on August 18, 2020.

NICHOLAS KAMM | AFP | beautiful pictures

Home Depot said on Thursday that Chief Executive Officer Ted Decker will take over the role of CEO.

The retailer’s current CEO, Craig Menear, will continue to serve as chairman of the board. The company said the leadership change would take effect from March 1.

Menear said Decker, a 22-year veteran of Home Depot, was the right person to lead.

“His ability to combine the art and science of retail is precisely what is needed in the next phase of development for The Home Depot,” he said in a press release. “I have great confidence that he will take our company to the next level.”

Shares of Home Depot closed Thursday at $356.43, down less than 1%. The stock is up about 30% over the past 12 months.

This is breaking news. Please check back for updates.

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