Atlanta, GA, Dec. 5, 2002--Home Depot, streamlining operations to compete better with Lowe's, said it would combine two regional store divisions. The world's largest home improvement retailer said it was combining its Midwest and Southwest regional divisions into a Central division based in Chicago. Bill Patterson, formerly president of the Midwest division, was named to head the new unit.
The Central division includes more than 457 Home Depot stores with 67,000 employees. Home Depot said the integration of the two divisions was expected to have "no material financial impact."
The combination of the two units fits in with Home Depot chairman Robert Nardelli's agenda of paring management layers and streamlining decision making. In September, the company joined its Southeast and Mid-Atlantic divisions into a new Eastern division based in Atlanta.
Home Depot, which has more than 1,480 stores in the United States, Puerto Rico, Canada and Mexico, faces more competition as Lowe's, which has more than 800 U.S. stores, expands to larger markets.
Home Depot also named Joe Izganics, a 13-year Home Depot veteran, as president of its services business. The former head of the Southwest division replaces Jeff Cohen, who left to pursue other business opportunities.
