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Home Depot names new CFO

Author: Marianne Wilson

Source: CSA The Business of Retail

A 24-year veteran of The Home Depot is stepping down.

The retailer said Carol Tomé, CFO and executive VP of corporate services, has decided to retire on August 31, 2019. Richard McPhail, who currently serves as the home improvement chain’s senior VP of finance control and administration, will be promoted to executive VP and CFO following her retirement.

“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,” said 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.”

Incoming CEO McPhail joined the Home Depot in 2005, and has held a number of roles of increasing responsibility within the chain’s finance organization.

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