Home Depot Chief Executive Officer Ted Decker is taking a temporary medical leave of absence expected to last several months, as the home improvement retailer approaches its second-quarter earnings report in less than a week.

During the leave, two senior executives will jointly assume CEO responsibilities: the head of U.S. stores and operations, along with the chief financial officer, will oversee the company's day-to-day management until Decker returns.

Home Depot announced on Wednesday that CEO Ted Decker will take a "temporary medical leave" for the coming months, and the company has appointed two key deputies to run operations during his absence.

According to the announcement, Ann-Marie Campbell, Senior Executive Vice President of U.S. Stores and Operations, will manage daily operations, while Chief Financial Officer Richard McPhail will oversee financial management and the Pro business segment, which caters to professional contractors.

Greg Brenneman, the board's lead independent director, will serve as board chairman during Decker's leave. The appointments were made by the board and are "consistent with Decker's own recommendations."

Brenneman stated in the announcement: "Home Depot has one of the best management teams in retail. Ann-Marie and Richard are highly capable and experienced, having worked together for over 20 years. We are confident in their ability to lead the company during this period as we await Ted's return."

The announcement comes less than a week before the company is scheduled to report its second-quarter fiscal results next Tuesday. Home Depot did not disclose further details about Decker's health condition.

Campbell, 61, joined Home Depot in 1985 as a cashier and rose through the ranks to become Senior Executive Vice President of Stores and Operations. McPhail, 56, joined the company in 2005 and has served as Chief Financial Officer since September 2019.

According to securities regulatory filings, the two executives will not receive additional compensation for taking on the extra responsibilities during Decker's absence.