Home Depot CFO Carol Tomé to retire at the end of August

• Home Depot's CFO Carol Tomé will retire on Aug. 31.
• She will be succeeded by Richard McPhail, the current senior vice president of finance control and administration.
• Tomé has been at the company for 24 years and McPhail joined in 2005.

Shoppers arrive at a Home Depot Inc. store in Louisville, Kentucky, U.S., on Monday, Feb. 25, 2019.

Luke Sharrett | Bloomberg | Getty Images

Home Depot announced Tuesday that Chief Financial Officer Carol Tomé will retire on Aug. 31.

Tomé, who has been with the company for 24 years, will be succeeded by Richard McPhail, the current senior vice president of finance control and administration.

"Since Carol was named our CFO in May 2001 we have delivered more than a 450% increase in value to our shareholders, due in part to her many contributions. We are truly grateful to Carol for her service, and I am deeply appreciative of her partnership over the past five years," Craig Menear, chairman, CEO and president of Home Depot, said in a statement.

Since joining Home Depot in 2005, McPhail has served as senior vice president of finance as well as both director and vice president of strategic business development.

"Richard has been a key contributor to our senior leadership team and I'm excited about him joining our executive leadership team," Menear added.