Veteran Home Depot CEO named as new CEO

A veteran executive was named CEO by the Home Depot on Thursday.

Edward Ted Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. Chairman and CEO Craig Menear will continue to serve as chairman of the company's board.

Decker, 58, joined Home Depot in 2000. He has held positions in finance, business development and merchandising.

The ability to blend the art and science of retail is what is needed for the next growth of The Home Depot, Menear, 64, said in a statement. I have great confidence that he will lead our company to new heights. In 2020 Home Depot's sales surged as the epidemic kept people indoors and itching to do home improvement projects. Sales have been boosted recently by the strong housing market.

In the first three quarters of 2021, Home Depot reported sales of $115 billion, up 15.6% from the previous year. The company has 2,317 stores in the U.S., Canada and Mexico.