CFO Carol Tomé retiring from The Home Depot
The Home Depot announced today that longtime Chief Financial Officer Carol Tomé will retire from the company in August.
Tomé will officially retire from her position as executive vice president and CFO on August 31. She was named CFO in May 2001 and is a 24-year veteran of the company.
"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," Craig Menear, chairman, CEO and president of The Home Depot, said in a statement issued by the Atlanta-based retailer.
The company also announced that 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.
Richard McPhail
McPhail has held a number of positions at the home improvement retailer since joining the company in 2005, including director of strategic business development, vice president of strategic business development, and senior vice president of finance.
The Home Depot said that in recent years, McPhail 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," said Menear.
The company operates 2,289 retail stores in the United States, Puerto Rico, U.S. Virgin Islands, Guam, Canada and Mexico. In fiscal 2018, The Home Depot had sales of $108.2 billion and earnings of $11.1 billion.
Tomé will officially retire from her position as executive vice president and CFO on August 31. She was named CFO in May 2001 and is a 24-year veteran of the company.
"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," Craig Menear, chairman, CEO and president of The Home Depot, said in a statement issued by the Atlanta-based retailer.
The company also announced that 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.
Richard McPhailMcPhail has held a number of positions at the home improvement retailer since joining the company in 2005, including director of strategic business development, vice president of strategic business development, and senior vice president of finance.
The Home Depot said that in recent years, McPhail 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," said Menear.
The company operates 2,289 retail stores in the United States, Puerto Rico, U.S. Virgin Islands, Guam, Canada and Mexico. In fiscal 2018, The Home Depot had sales of $108.2 billion and earnings of $11.1 billion.