Home Depot Elects Ted Decker As Chair Of Board; Authorizes $15 Bln Share Repurchase

Home improvement retailer Home Depot Inc. (HD) said that its board has elected chief executive officer and president Edward "Ted" Decker as chair of the board, effective October 1, 2022. He will succeed Craig Menear, who will retire as chair effective September 30, 2022.

Decker, a 22-year veteran of The Home Depot, was named chief executive officer in March 2022. He was named president and chief operating officer in October 2020. Decker joined The Home Depot in 2000 as a director of business valuation and has held numerous strategic positions across the company.

In a separate press press release, Home Depot said it declared a second quarter cash dividend of $1.90 per share. The dividend is payable on September 15, 2022, to shareholders of record on the close of business on September 1, 2022.

The company's board authorized a new $15 billion share repurchase program, replacing its previous authorization.

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