Summary
The Home Depot, Inc. (HD) announced a significant leadership transition in its finance department via an 8-K filing dated April 30, 2019. Carol Tomé, the current Executive Vice President – Corporate Services and Chief Financial Officer, will retire from her role effective August 31, 2019. Ms. Tomé's departure marks the end of her tenure in a key financial leadership position, though her compensation and employment terms remain unchanged leading up to her retirement. Following Ms. Tomé's retirement, Richard McPhail is slated to assume the role of Executive Vice President and Chief Financial Officer. Mr. McPhail brings extensive experience within The Home Depot, having served in various senior finance roles since 2005, most recently as Senior Vice President, Finance Control and Administration. His broad responsibilities have covered critical areas such as financial reporting, planning, treasury, and tax. Investors should note that further details regarding Mr. McPhail's employment arrangement will be disclosed in a subsequent amendment to this filing.
Key Highlights
- 1Carol Tomé, EVP – Corporate Services and CFO, will retire effective August 31, 2019.
- 2No change in Carol Tomé's compensation or employment terms related to her retirement.
- 3Richard McPhail appointed as the successor CFO, effective after Ms. Tomé's retirement.
- 4Richard McPhail has a long tenure at Home Depot with diverse financial leadership experience.
- 5Mr. McPhail's recent role involved oversight of enterprise financial reporting, FP&A, treasury, and tax.
- 6A press release detailing these changes is attached as an exhibit.
- 7Details of Mr. McPhail's employment arrangement will be filed in an amendment within four business days.