The Home Depot Announces CFO Transition

by Katie Lee

Atlanta — The Home Depot has announced that Carol Tomé, chief financial officer and executive vice president of corporate services, has decided to retire on August 31, 2019 after 24 years of service to the company. She will be succeeded by Richard McPhail.

“Carol is not only one of the most respected executives in corporate America and an outstanding chief financial officer, but also is beloved by The Home Depot associates,” says Craig Menear, chairman, CEO and president. “Since Carol was named our CFO in May 2001, we have delivered more than a 450% increase in value to our shareholders, due in part to her many contributions. We are truly grateful to Carol for her service, and I am deeply appreciative of her partnership over the past 5 years.”

Richard McPhail, senior vice president of finance control and administration, will be promoted to executive vice president and chief financial officer following Carol’s retirement. Since joining the company in 2005, McPhail has held a number of roles of increasing responsibility within the finance organization including director of strategic business development, vice president of strategic business development, and senior vice president of finance. In recent years, he was responsible for developing the company’s financial plans and managing its day-to-day financial performance, overseeing the company’s business development activities, and creating a decision analytics center of excellence, among other responsibilities.

“Developing top talent and ensuring seamless succession planning is a hallmark of our company. Richard has been a key contributor to our senior leadership team and I’m excited about him joining our executive leadership team,” says Menear.

The Home Depot is the world’s largest home improvement specialty retailer, with 2,289 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.


SOURCE: The Home Depot

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