Home Depot’s Retail Head Craig Menear To Take Helm As CEO
American retailer of home improvement and construction products The Home Depot has appointed retail industry veteran Craig Menear as the chief executive four months after he was appointed head of the US retail business of the company. Menear will take over on 1 November 2014, according to Reuters.
Menear succeeds Francis Blake, who led the company since 2007. Blake will remain chairman of the company. The move comes as Home Depot tries to steer through the slow recovery in the US housing market, where increasing interest rates and small wage growth have reduced spending on new homes.
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