New Chief Marketer at Home Depot

DALLAS Home Depot said it has replaced executive vice president of merchandising and marketing John Costello with Tom Taylor, who had been evp of store operations.

Costello, 58, is leaving the company to pursue “other business opportunities,” according to a client statement.

Taylor, 39, has worked at the Atlanta-based retailer for 22 years.

The client spent $470 million on ads last year and $255 million in the first half of 2005, per Nielsen Monitor-Plus.

Independent The Richards Group in Dallas and Interpublic Group’s Initiative in New York respectively handle Home Depot’s creative and media assignments.

Bob Nardelli, client chairman, president and CEO, praised Costello as well as Taylor in a statement. “Our advertising and marketing programs are stronger than ever thanks to his efforts,” Nardelli said of Costello.

Home Depot is not planning any changes in its advertising or marketing strategy as a result of the new assignments, said a company representative. There have been no discussions of an agency review, the rep said.