The Home Depot has established an interim leadership team to replace CEO Ted Decker, as he will be on temporary medical leave over the next few months.

The board of directors, based on Decker’s recommendation, has chosen two long-time executives, Ann-Marie Campbell and Richard McPhail, to oversee operations in the meantime. 

Campbell, who is senior EVP, will provide oversight of Home Depot’s day-to-day operations. McPhail, currently EVP and CFO, will be in charge of the company’s financial management and Pro subsidiaries. 

Independent lead director Greg Brenneman will chair the board during Decker’s leave. 

“Both Ann-Marie and Richard are strong, seasoned executives who have worked together for more than 20 years,” said Brenneman. 

“We are confident in Ann-Marie’s and Richard’s ability to lead the company during this time, and we look forward to Ted’s return.” 

The Home Depot reported a 4.8 per cent sales uplift in its first quarter. Comparable sales, however, were up by a more modest 0.6 per cent, including a 0.4 per cent increase in the US.

Net earnings for the quarter decreased from $3.4 billion to $3.3 billion.

GlobaData MD Neil Saunders said at the time that the subdued results reflected the overall home improvement market, which remains soft and “unlikely to reverse anytime soon”. 

The company will report its second-quarter results later this month.