Home Depot names new CEO, Lowe’s and Petco team up, NYC employers to disclose salary ranges

Yahoo Finance's Julie Hyman reports trending business stories as Home Depot names a new CEO, Lowe's and Petco team up to launch pop-up pet supplies stores, and NYC employers will be required to disclose salary ranges.

Video transcript

JULIE HYMAN: Home Depot has named a new CEO. There he is. Ted Decker, the company's current chief operating officer, is going to take over for Craig Menear, who will continue to serve as chairman of the board. Decker is going to assume the post and join the board of directors as of March 1. He joined Home Depot in 2010. He's been COO since 2020, and shares of Home Depot instantly are up, as you can see, more than 50% in the past two years.

Lowe's is teaming up with Petco. Starting next month, 15 Lowe's stores in Texas, North Carolina, and South Carolina will open pop-up Petco shops inside their locations. The company will sell more than 700 pet products and provide grooming services Lowe's is hoping to capitalize on the pet business. It's boomed during the pandemic. More than 11 million pets have joined US homes in the past two years. That's according to Petco. Get some dog biscuits with your lumber. We'll see how that works out.

And New York City will soon require businesses to disclose what they are paying their employees. A new law, which goes into effect on May 15, requires companies to post the salary range for an open position, promotion, or transfer opportunity. Nearly every business in the city would be covered by this law. Only those with fewer than four employees or staffing companies hiring temporary contractors would be excluded.

Well, coming up next, are people drinking more now than before the pandemic? And what are they drinking? If Diageo's latest sales are any indication, the answer is, yes, they are drinking more. And we'll tell you about what they're drinking next with the North America president of Diageo, Debra Crew.