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Home Depot expands technology leadership with a focus on customers

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home depot inc

is ramping up online shopping, curbside pickup apps and other digital endeavors that have helped boost sales during the Covid-19 pandemic, and moving its veteran Chief Information Officer to a new full-time leadership role overseeing customer technology.

The home improvement retailer has been an early winner during the pandemic as locked-down consumers turned to do-it-yourself projects around the home. Home Depot was among a group of companies that benefited from the demand created by the lockdown.

Some of those companies have returned to pre-pandemic levels with Netflix inc

Warning this week that profits made during the pandemic were hiding fault lines in his business. Netflix shares plunged 35% after its first-quarter earnings report on Tuesday, the stock’s second-worst one-day decline on record.

Home Depot shares traded at $310 Thursday, down from their December 2021 peak of $415 but above the $152 they were asking at the start of the pandemic in March 2020.

Amid lockdowns and social distancing, shoppers flocked to physical and online stores, spending savings they made from staying at home and government incentive controls on home improvement projects.

The new customer-centric technology leadership aims to help the company maintain this momentum.

The company on Tuesday appointed CIO Matt Carey as executive vice president of customer experience. Fahim Siddiqui joins as CIO overseeing technology strategy, infrastructure and software development. Mr. Carey joined Home Depot in 2008 as executive vice president and CIO, and Mr. Siddiqui has served as the company’s senior vice president of information technology since 2018.

“We’ve created a new role that reinforces our commitment to making shopping at Home Depot a truly connected, easy experience for our customers,” said Paul Mayer, a spokesman for the company, on Thursday. Mr Carey and Mr Siddiqui were unavailable for comment.

Home Depot said both positions will report to chief executive Ted Decker, who assumed his new role in March after serving as chief operating officer and president.

Mr. Carey, who started as CIO in 2008, contributed to the company’s efforts to manage Covid-19 lockdowns and other restrictions by using digital tools to manage limited capacity physical stores, curbside pickup and online transactions.

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In his new role, Mr. Carey will be responsible for the vision, design and development of customer experience technologies. Mr. Siddiqui will lead technology strategy, infrastructure and software development for retail stores, supply chain facilities, offices and online systems, the company said.

“I’ve seen several CIOs move into a more customer-centric role and away from traditional IT,” said Tim Crawford, CIO strategic advisor at Los Angeles-based enterprise IT consulting firm AVOA. He said it makes sense to have a CIO overseeing the underlying technology for customer experience tools “in terms of understanding the tools, capabilities, integrations and requirements.”

write to Suman Bhattacharyya at Suman.Bhattacharyya@wsj.com and Angus Loten at angus.loten@wsj.com

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https://www.wsj.com/articles/home-depot-revamps-tech-leadership-with-focus-on-customers-11650619800?mod=pls_whats_news_us_business_f Home Depot expands technology leadership with a focus on customers

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