Home Depot CEO Blake Stepping Down

Atlanta, GA, Aug. 22, 2014 -- Home Depot is getting a new CEO.

Frank Blake isstepping down Nov. 1 after seven years as CEO of the world’s largest home-improvement retailer. He will remain as chairman of the board.

Home Depot retail operations president Craig Menear will become the new chief executive.

Menear has been president of the company’s U.S. retail operations since February.

Blake led the company through the housing bust by focusing on its core retail business and shedding its wholesale businesses.

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