Home Depot Changing Leadership

After more than a year as head of Home Depot’s US stores division, Marc Powers will be stepping down, making way for longtime Home Depot employee Ann-Marie Campbell to take over. Powers, age 54, began his stint in 2014, taking over the US store division when Marvin Ellison left Home Depot to become chief executive at JC Penny.

As of February 1 Campbell, age 50, will take the reins from Powers. She is a 30-year veteran of Home Depot, rising through the ranks from cashier in South Florida to most recently president of Home Depot’s southern division.

The change in leadership comes one month after Home Depot announced its goal of increasing sales to $101 billion during the coming three years. Current overall sales stand at about $88 million. The home improvement giant plans to increase sales without opening any new stores. Instead it plans on selling more merchandise on-line, such as power tools, home furnishings and more.

James Cannon

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com