The Home Depot on Thursday named a veteran executive as its new CEO.
Edward “Ted” Decker, who has served as Home Depot’s chief operating officer since October 2020, will become president and CEO on March 1. Current Chairman and CEO Craig Menear will continue to serve as the company’s board chairman.
Decker, 58, joined Atlanta-based Home Depot in 2000. He has held roles in finance, business development and merchandising.
“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, 64, said in a statement. “I have tremendous confidence that he will guide our company to new heights.”
Home Depot’s sales surged in 2020 as the pandemic kept people indoors and itching to do home improvement projects. More recently, sales have been boosted by the strong housing market.
Home Depot reported sales of $115 billion in the first three quarters of 2021, up 15.6% from the prior year. The company operates 2,317 stores in the U.S., Canada and Mexico.
Home Depot shares were flat in after-market trading.
Before you consider Home Depot, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Home Depot wasn't on the list.
While Home Depot currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
