THE HOME DEPOT NAMES MICHAEL ROWE EVP OF PRO; STEPHANIE SMITH TO BECOME EVP OF HUMAN RESOURCES
Rhea-AI Summary
The Home Depot (HD) announced key executive changes, with Michael Rowe appointed as Executive Vice President of Pro, effective immediately. Rowe, a 19-year company veteran previously serving as president of Home Depot Canada, will lead the expansion of Pro market capabilities including delivery, salesforce development, technology, and CRM tools.
Stephanie Smith has been promoted to EVP and will succeed Tim Hourigan as EVP of Human Resources upon his retirement on June 6, after 23 years with the company. Smith, previously Senior VP of Supply Chain, will oversee leadership development and associate engagement for over 470,000 employees.
Additionally, Vinod Nalajala has been promoted to president of Home Depot Canada. Nalajala, who started as a sales associate in 2001, has served in various leadership roles including VP of human resources, central operations, and asset protection.
Positive
- Rowe's successful track record in growing Pro business in Canada
- Internal promotion demonstrates strong succession planning
- Smith brings 22 years of cross-functional experience to HR role
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, HD gained 1.22%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
As EVP of Pro, Rowe will be responsible for The Home Depot's strategy to grow its business with professional customers. In this role, he will lead the expansion of key capabilities to serve the Pro market, including delivery capabilities, salesforce development, technology and CRM tools, order management and more. Most recently, Rowe served as president of The Home Depot Canada. A 19-year veteran of the company, Rowe has held several leadership roles for the Canadian division, including vice president of online, marketing and contractor services where he was responsible for the strategy and execution of key business initiatives and capabilities to serve Pro customers. Under his leadership, the Canadian division invested in growing its business with the Pro customer, leading to outsized growth with the Pro in that market. Previously, he served as vice president of finance and contractor services, procurement and strategic business development for The Home Depot Canada.
"We are uniquely positioned to win as we build out our Pro ecosystem, investing in capabilities to grow share of wallet with Pros no matter how they choose to shop with us," said Ted Decker, chair, president and CEO of The Home Depot. "As the head of our Canadian business, Mike led an unprecedented period of growth and expansion across the country and was instrumental in building our Pro business in
Vinod Nalajala has been promoted to president, The Home Depot Canada, effective immediately. Vinod joined The Home Depot Canada in 2001 as a sales associate. In his 24-year career with The Home Depot Canada, he has taken on roles of increasing responsibility including store manager, regional sales manager, senior manager of sales execution and district manager. He has served as vice president of human resources, central operations, contact centers, asset protection and building services.
Stephanie Smith has been promoted to executive vice president and will succeed Tim Hourigan as EVP of human resources upon his retirement. In this role, Smith will be responsible for driving the culture and experience for the more than 470,000 associates who work at The Home Depot – including leadership development, associate engagement and fostering of the company's unique culture and values. Previously, Smith served as senior vice president of supply chain for The Home Depot, where she was responsible for inventory management, transportation, delivery, supply chain analytics, product management and leadership of the Temco business. Smith has held leadership roles across store operations, merchandising operations, supply chain, inventory planning and replenishment.
"Stephanie's exceptional blend of operational expertise and thoughtful leadership was instrumental in fostering a team-oriented environment in our supply chain organization, resulting in improved associate engagement and performance," said Decker. "In her 22 years with The Home Depot, she has worked closely with virtually every team across the company, which gives her a unique understanding of the opportunities and challenges our associates face every day. I look forward to her continued leadership and contributions to our company's culture and success.
"I would like to thank Tim for an exceptional career with The Home Depot. His vision and guidance have driven our HR initiatives forward, and his legacy will continue to inspire us for years to come. We are grateful for his unwavering support and the positive impact he has had on our associates and our organization."
ABOUT THE HOME DEPOT
The Home Depot is the world's largest home improvement specialty retailer. At the end of the fourth quarter of fiscal 2024, the company operated a total of 2,347 retail stores and over 780 branches across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
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SOURCE The Home Depot
FAQ
What are Michael Rowe's responsibilities as the new EVP of Pro at Home Depot (HD)?
When will Tim Hourigan retire as EVP of Human Resources at Home Depot (HD)?
What was Stephanie Smith's previous role before becoming EVP of Human Resources at HD?
How many employees will Stephanie Smith oversee in her new role at Home Depot (HD)?
