The Home Depot said that Carol Tomé, chief financial officer and evp/corporate services, has decided to retire on August 31, 2019, after 24 years of service. Richard McPhail, svp/finance control and administration, will be promoted to evp/chief financial officer following her retirement.
“Carol is not only one of the most respected executives in corporate America and an outstanding CFO, but also is beloved by The Home Depot associates,” said Craig Menear, chairman, CEO and president, Home Depot. “Since Carol was named our CFO in 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 five years.”
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, vp/strategic business development, and svp/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,” said Menear.