The Home Depot announced Carol Tomé, CFO and executive vice president of corporate services, will retire on August 31, 2019, after 24 years with the company. The retailer announced Richard McPhail, senior vice president of finance control and administration, will be promoted to executive vice president and CFO upon Tomé’s retirement.

“Carol is not only one of the most respected executives in corporate America and an outstanding chief financial officer, but also is beloved by The Home Depot associates,” Craig Menear, chairman, CEO, and president of The Home Depot said in a public statement.

McPhail has served as The Home Depot’s director of strategic business development, vice president of strategic business development, and senior vice president of finance since joining the company in 2005. In recent years, McPhail was responsible for developing the company’s financial plans, managing day-to-day financial performance, and overseeing the company’s business development activities.

The Home Depot operates 2,289 retail stores in the U.S., Puerto Rico, the U.S. Virgin Islands, Guam, Canada, and Mexico. In the fiscal year 2018, the retailer had sales of $108.2 billion, a 10.9% increase year over year, largely driven by sales to pros. The company launched Home Depot Pro in the fourth quarter of 2018, a personalized offering to professional customers through a B2B website experience. The retail plans to roll out the platform to over 1 million pros in 2019.