The Home Depot IncHD
▼ Negativerelevance
CEO's medical leave creates leadership uncertainty ahead of earnings
Impact on stocks 2
Consumer Discretionary
The Home Depot Inc
Lowe's Companies IncLOW
Mentioned
Home Depot disclosed that chair, president and CEO Ted Decker has taken a temporary medical leave of absence with no specific return date, just six days before the company's second-quarter earnings report. The board appointed Senior EVP Ann-Marie Campbell to oversee day-to-day operations and CFO Richard McPhail to manage financial matters and the company's Pro subsidiaries, with McPhail also designated interim principal executive officer. Independent lead director Greg Brenneman will chair the board during Decker's leave. Home Depot shares fell 1.9% to $347.7 on Wednesday, and the stock has shed roughly 14% over the past year. Analysts forecast Q2 EPS of $4.73 on revenue of approximately $47.27 billion, with 19 downward revisions versus 9 upward over the prior 90 days.
The Home Depot IncCEO's medical leave creates leadership uncertainty ahead of earnings
Lowe's Companies Inc