Carol Tomé, CFO and EVP of Corporate Services for The Home Depot, will retire on Aug. 31, 2019 after 24 years with the company. Richard McPhail, currently Senior VP of Finance Control and Administration, will be promoted to the CFO role following her retirement.
“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,” said Craig Menear, CEO and President of The Home Depot in a statement.
Since McPhail joined the company in 2005, he has held roles of increasing responsibility within the finance organization, including Director and then VP of Strategic Business Development and Senior VP of Finance. In recent years, McPhail has been responsible for developing the company’s financial plans and managing its day-to-day financial performance, as well as overseeing business development activities and creating a decision analytics center of excellence.
“Developing top talent and ensuring seamless succession planning is a hallmark of our company,” said Menear. “Richard has been a key contributor to our senior leadership team and I’m excited about him joining our executive leadership team.”