The Home Depot on Thursday named a veteran executive as its new CEO.

Edward “Ted” Decker, who has served as Home Depot’s chief operating officer since October 2020, will become president and CEO on March 1. Current Chairman and CEO Craig Menear will continue to serve as the company’s board chairman.

Also Read: Founder and CEO of OnlyFans, Tim Stokely, steps Down

Decker joined Atlanta-based Home Depot in 2000. He has held roles in finance, business development and merchandising.

“His ability to blend the art and science of retail is exactly what is needed in the next phase of growth for The Home Depot,” Menear said in a statement. “I have tremendous confidence that he will guide our company to new heights.”

Also Read: Ousted McDonald CEO Steve Easterbrook returns $105 million after misconduct

Home Depot’s sales surged in 2020 as the pandemic kept people indoors and itching to do home improvement projects. More recently, sales have been boosted by the strong housing market.

Also Read: Top Indian-origin women CEOs who are leading global companies

Home Depot reported sales of $115 billion in the first three quarters of 2021, up 15.6% from the prior year. The company operates 2,317 stores in the U.S., Canada and Mexico.

Home Depot shares were flat in after-market trading.