Dive Brief:
- The Home Depot on Tuesday named Michael Rowe executive vice president of Pro, effective immediately. He reports to Ann-Marie Campbell, a senior executive vice president who oversees operations across the U.S., Canada and Mexico.
- A 19-year veteran of the company, Rowe most recently served as president of The Home Depot Canada. His past experience with the chain’s Canada business includes stints as vice president of online, marketing and contractor services, as well as vice president of finance and contractor services, procurement and strategic business development.
- The company also announced the promotions of Vinod Nalajala to replace Rowe as president of The Home Depot Canada, effective immediately, and Stephanie Smith to succeed current Executive Vice President of Human Resources Tim Hourigan upon his retirement from the chain on June 6. Nalajala also reports to Campbell, per the company.
Dive Insight:
Rowe’s appointment comes as the chain continues to beef up its pro business.
The retailer opened four new distribution centers in the first half of last year in Detroit, Los Angeles, San Antonio and Toronto to better serve its pro customers. The retailer stocked the facilities with large, bulky merchandise such as lumber, insulation and roofing shingles.
“We are uniquely positioned to win as we build out our Pro ecosystem, investing in capabilities to grow share of wallet with Pros no matter how they choose to shop with us,” Home Depot CEO Ted Decker said in a statement. “As the head of our Canadian business, Mike led an unprecedented period of growth and expansion across the country and was instrumental in building our Pro business in Canada. His vision and operational expertise make him an ideal fit to lead our Pro business through its next phase of growth, alongside our talented Pro organization.”
Home Depot is coming off a fourth quarter where it posted positive quarterly comparable sales for the first time in two years, inching up 0.8% overall and 1.3% in the U.S. All pro cohorts saw positive comps during the fourth quarter as well, according to the company. While the retailer believes the positive results bode well for 2025, it remains cautious in its projections given the current economic conditions of pending tariffs and high interest rates.
Like Home Depot, Lowe’s has also been ramping up its initiatives to win over pro customers. The retailer just last month announced a simplified loyalty program that makes it easier for small- and mid-sized professional contractors to earn and redeem rewards.