Home Depot president and CEO Craig Menear will become company board chairman in February.
The current chairman and former Home Depot CEO Frank Blake plans to retire from the board role. Blake stepped down as CEO in November after seven years in the position.
Menear will take on the board job for the home improvement retailer effective Feb. 2, according to an article from Fortune. Home Depot did not state why Blake chose to retire as chairman.
“We’re fortunate to have another great leader in Craig Menear and look forward to working closely with him moving forward,” lead director Greg Brenneman says in a press release.
To read the full Fortune article, click here.