Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. Under his leadership, the company continues to . From the policy debates to the political fights, today's . Not the Craig Menear you were looking for? In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . As the Democratic-leaning holdout of Home Depot's group of founders, Blank has given hundreds of thousands of dollars to Democrats like Hillary Clinton, Chuck Schumer, and Sam Nunn. Turn on desktop notifications for breaking stories about interest? He became president and COO in October 2020. Craig Menear (born c. 1958) is an American business executive. His triumphs have clearly been shown, as in his three years in the position have led to amazing stock records (as we mentioned before), and the company appears to be doing better than ever while continuing to evolve. The Home Depot announced late last week that it had appointed Ted Decker as its new chief executive officer. Political Campaign Contributions. The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. His first post-grad job was at Montgomery Ward, a department store chain. While glancing at his 13 years company's stock transaction . Rapidly putting his know-how to work, the young man from Flint climbed his way up from divisional merchandise manager for the southwest division to senior vice president of merchandising for hardlines by 2003. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. In January 2022, The Home Depot announced that he would step . To examine the politics of the home improvement sector beyond the issue of politically-polarized founders, Business Insider combed through the FEC records for each company's current leadership team and examined the Center for Responsive Politics' breakdown of each company's in-house PAC for answers. The company's statement didn't give a reason for Menear's retirement. Top editors give you the stories you want delivered right to your inbox each weekday. Still, amidst troubled financial waters, Blake chose to make investments in his operations by continuing to modernize their supply chain, rethinking the role technology could play in their retail strategy, and most importantly, emphasizing the tremendous impact that each hired hand in each store has on Home Depots success. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. Craig may not officially change The Home Depot's signature orange color, but his allegiance to the green and white is as strong as ever. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. "It's not entirely clear what the parameters were for deciding who is included or not included, but there do seem to be a significant number of Trump donors on this list," Brendan Fischer, a federal reforms director at watchdog group Campaign Legal Center, told ABC News. "Our founders have not been with The Home Depot for nearly 20 years and they don't speak on behalf of the company," a Home Depot spokesperson told Business Insider. as well as other partner offers and accept our, A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge, Before that, he worked at Montgomery Ward and. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. Despite the fact he walked away with a dreamy retirement package worth up to $210 million, his practices left Home Depot in a compromised position, particularly due to the cost cuts that were being made to reach inauthentic quarterly objectives they inadvertently wreaked havoc on the ground floor, in other words, where the customer spends their money. Despite being the older company, the original movers-and-shakers of Lowe's never achieved the same high-profile or politicized status in the business world as their orange-aproned counterparts. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. Craig Menear and two executive VPs explain that you can use these hours as you see fit, whether now, or later (summertime beach season for me), or not at all & get paid out for them at the end of the year. Menear started at Home Depot in 1997, and Decker began his tenure there in 2000. However, as of 2021, he is 63 years old. Teddy W Solomon says: April 4, 2021 at 5:19 pm. It seems that there really is no stopping Craig Menear, and his attempts to make the company all about the customer. He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. People like Geoffrey Palmer, a colorful California real estate developer who plays professional polo and owns multimillion-dollar mansions in Beverly Hills, Malibu and Aspen, will join the councils "Construction/Labor/Workforce" group, alongside leaders from major unions, including AFL-CIO, International Brotherhood of Teamsters, and Laborers International Union of North America. By DEE-ANN DURBIN January 27, 2022. Craig is currently on the board of directors of Retail Industry Leaders Association, Atlanta Committee Progress, and 3DE by Junior of Georgia and Camp Southern Ground. One of the biggest challenges looking ahead manifested in the form of consumer habits shifting, as online sales grew to 4% with no signs of slowing, leadership needed to ponder how best to sell items from barbecue grills and patio sets to actual bricks and mortar over the Internet. Recruited from General Electric, Robert Nardelli was CEO of The Home Depot between 2000 and 2007, his tenure at the home improvement giant has since been scrutinized by analysts as far-reaching as the Wharton School of Finance, where one published study argueshe brought the wrong toolbox to the job. Through his knowledge of restructuring the company for ultimate profitability, the company has exceeded many expectations, and should continue to do so throughout the coming years as well. "Craig Menear's Home Depot: The Darling Of Wall Street", "Craig Menear, Flint native, named Home Depot CEO", "Inside the career of Home Depot CEO Craig Menear, who spent nearly 20 years working his way up the ladder", "Company Overview of The Home Depot, Inc.: Craig A. Menear", "Home Depot nails 2016 but CEO's pay drops slightly, to $11.5 million", "Why Home Depot CEO Craig Menear Is The Retailer Of The Year", https://en.wikipedia.org/w/index.php?title=Craig_Menear&oldid=1107007407, This page was last edited on 27 August 2022, at 16:50. Craig Menear has created a big name for himself in the business of home improvement. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. Ruffin has given nearly $1 million to Trump Victory, the president's joint fundraising committee with the Republican National Committee, and another $1 million to Trump's inaugural committee. Spielberg is a legend, Read More The 10 Highest Grossing Films Directed by Steven SpielbergContinue, What do you know about Mohit Kumar, the CEO of Ultrahuman? But a modicum of political change may be at hand for both retailers in the coming election cycle. Craig A. Menear: CEO Pay $13,059,751: Median Employee Pay $28,697: CEO Pay Ratio 455:1: Board of Directors in HOME DEPOT INC. For its 2021 fiscal year, HOME DEPOT INC, listed the following board members on its annual proxy statement to the SEC. You can help Wikipedia by expanding it. Menear was born and raised in Flint, Michigan to his family back in 1958. Prior to joining The Home Depot, he worked in a variety of roles in mass, home center and specialty retailing. On 1 June 2016, Home Depot co-founder Bernie Marcus published an essay on the web site Real Clear Politics in which he announced that he was endorsing GOP candidate Donald Trump for President of . (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. Craig Menear. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. His first job was at Montgomery Ward, a department store chain. He attended Flint Central High School. Before making his way to The Home Depot, he worked for other independent construction retailers, and other companies (such as Ikea), where he learned the ropes in terms of online sales, marketing, and other business assets. Craig Menear is chairman, CEO and president of The Home Depot. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. Has Been Known As The Darling Of Wall Street, 7. Home Depot says Craig Menear, the president of its U.S. retail operations, will become president and CEO of the company Nov. 1.. Frank Blake has been Home Depot's chairman and CEO since 2007, and . Home Depot said Thursday that Craig Menear, the president of its U.S. retail operations, will become president and CEO of the company Nov. 1. World Wrestling Entertainment Vince McMahon, the husband of major Trump donor and fundraiser Linda McMahon, is also listed as a member under the sports group. Craig Menear's house is located near The Home Depot headquarters in Atlanta, Georgia, where he lives with his wife, Dawn and two daughters. During his childhood, he had a lawn care business with which he bought his first car. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. Mr. Menear owns over 68,468 units of Home Depot stock worth over $75,521,444 and over the last 16 years he sold HD stock worth over $14,995,979. By December of 2019, The Home Depot was riding high considering online sales had been increasing about $1 billion in each of the previous six years, ultimately making them the 5th largest e-commerce operation in the United States; 50% of the time, customers were choosing to pick up their orders inside their neighborhood store a testament to the home improvement giants interconnected strategy. Read more about the author Craig Menear at L'ATTITUDE. Home Depots same-store sales in the U.S., which includes sales online and at stores open for at least 12 months, grew 24.6% in the pandemics first quarter. Home Depot Inc. He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. Account will be deleted and I will shop at Lowes! Menear has been into entrepreneurship from an early age. Menear began working at Home Depot in 1997. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. Home Depot Inc on Thursday named 22-year company veteran Edward Ted Decker as its new chief executive officer and president, replacing Craig Menear, who will continue as chairman. Menear was born in Flint, Michigan, USA, in the year 1958. They outrank your supervisor. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. We need to transform Home Depot to allow customers to shop when, where, and how they want to, Menear said in a 2014 interview at the companys Atlanta headquarters. Digital sales rose 80% year over year, furthermore, customers picked up about 60% of those orders at a physical store. I couldnt do this without her, he humbly admitted to the Atlanta Business Chronicle in 2018. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. 2023 CNBC LLC. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. In 2021, the company had 490,600 employees and more than $151 billion in revenue. Work Biography for Craig Menear. That relentless work ethic the future executive displayed must have had something to do with the rugged midwestern upbringing he experienced, after all, his father frequently battered him with the mantra, if youre going to do something, do it 110%, or dont do it at all.. Like other CEOs, Craig has been vocal about his political stand in the US elections. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. 5. Find contact details for 700 million professionals. } When introducing her boss at Monday's Rotary Club of Atlanta, the Home Depot's Kelly Barrett admitted that she was a little worried when Craig Menear became CEO following Frank Blake in November . It became apparent this rebuild was reaching for the long-term as the great recession took hold, plunging the companys net income to $756 million in the three months ended Nov. 2, 2008, down 30.7% from $1.1 billion in the same period a year before. "Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles," said Blake. The Home Depot on Thursday named a veteran executive as its new CEO. After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. on: function(evt, cb) { They invested about $11 billion in the improvement of . The company also expanded its distribution network, with the goal of offering same-day and next-day delivery to 90% of the U.S. population. His father was a tool and die maker at Flint General Motors. Ron DeSantis, a close ally of the president, declared "employees at a professional sports (league) and media production with a national audience" part of "essential workers" in Florida, allowing McMahon's pro-wrestling company to continue live television broadcasts from its Orlando training facility, while most businesses in Florida had been ordered to shut to help fight the spread of the coronavirus. Has Worked For More Than Just The Home Depot. For Langone, recent beneficiaries include official Republican Party offices across the United States, as well as big-name Republican members of Congress like Kevin McCarthy and Tom Cotton. 2 homedepot.com.trackapp.io; homedepot.com; 5+ 678362XXXX; 678-462-XXXX; 678-362-XXXX; 678-461-XXXX; 770-384-XXXX . Mr . 2023 CNBC LLC. Since public colleges are supported by the taxes of the people who live in the local regions, the tuition for public colleges, Read More Will Record Tuition Deductions Help Private Colleges?Continue, Joe Bob Perkins is the CEO of Targa Resources. The question is not merely academic, as decisions made about the economic future of the country could reflect the interests of those appointed to the council. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. Connie Snyder: What do you know about Steve Ballmer wife? from 1999 to present. "During Ted's tenure as CEO and a member of the board, we have witnessed firsthand his passion for the customer experience and our associates, and we look forward to continuing to work with him as chair," Greg Brenneman, the board's lead director, said in a news release. Political Action Committee, according to FEC data. 38/$15,620. Starting in 2019, a Nevada voter named Patrick Farrah is listed by the FEC as having donated thousands toward Republican candidates like Lindsey Graham, Mitch McConnell, Kevin McCarthy, and Duncan Hunter, as well as the PAC Bikers for the President. Menear has donated to the Home Depot Political Action Committee over the years. These innovations had an immensely positive role on Menears merchandising side of things; think smoother stocking of inventory and more cost-effective operating expenses, which tends to create wiggle room for competitively priced products. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. He's spent the vast majority of his career dealing with complex logistics, the expectations of builders and home . Craig Menear works as a Board Member Craig graduated from Michigan State University's Eli Broad College of Business and They used to work at Camp Southern Ground and have used the following emails: , @homedepot.com. Sign up for notifications from Insider! In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 Democrats received 30% of an overall contribution of $1,977,250. "It's an example of how writing big checks to the president and a super PAC means that your voice is heard louder than many others, Fischer said. The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table. Ethics experts say it is certainly not the first time political donors have netted advisory posts. Michigan State was a great economic opportunity to be able to get a great education and a great life, and I am very happy to be able to give back some of what was given to me, he divulges to the schools newspaper, having earned his bachelors degree in a fairly swift four years, with the class of 79. His skills can be looked up to and learned from. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. Political Action Committee, the . He isnt necessarily the prototypical hotshot CEO we all imagine in our heads when thinking of somebody who has experienced his degree of success or that wields so much economic power, as a matter of fact, hes humble, soft-spoken, and were you to encounter him on the street, theres probably no way youd know he leads an army of 300,000 ready to help associates spread across the North American continent. [2] Succeeding Frank Blake in these roles, Menear has served as its chief executive officer since November 2014,[2] and as its chairman since February 2015. In his role as a news anchor, he has covered more than 300 hours of live, breaking news coverage, including the 2016 presidential campaign and events around the world. In addition to naming Home Depot CEO Craig Menear to its list, the White House also listed Home Depot co-founders Bernie Marcus and Ken Langone.Both of those billionaires no longer work for the home improvement company, but they are major Republican donors. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. We will stand up and speak up, hitting Home . Details of his birthday and month are yet to be revealed. The American entrepreneur cannot be contacted directly via his personal details. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. Text. People go: Got it. Craig Menear, chairman, president, and CEO of The Home Depot and alumnus of the Broad College of Business, was the commencement speaker at the spring undergr. As announced by Home Depot Inc. in a news release and in a regulatory filing published on Thursday, January 27, 2022, Craig A. Menear leaves his post as chief executive officer at the world's largest . What are the admission requirements to study medicine at UCT 2022? NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. Coca-Cola ultimately issued a carefully worded statement saying that "voting is a foundational right in America" and pledging to "work to advance voting rights and access in Georgia and . Craig Menear is an inspiration to all the upcoming businesspersons. But simply examining large donations from retired founders does not lead to a complete or accurate picture of either Home Depot or Lowe's' political leanings. According to the Center for Responsive Politics, the Arthur M. Blank Foundation has only given $283 to Democratic candidates in 2020 so far, and zero dollars to Republicans. He serves as the chairman and is the former chief executive officer of The Home Depot. If somebody had said, Okay, Frank, here blank sheet of paper. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. He previously served as chief merchant and executive vice president of merchandising. ET and ABC News Live at 4 p.m. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . Decker took over as CEO in March, when Menear stepped down from that role. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. For starters, seasoned associates at the company were less than thrilled to watch him oust long-time, trusted executives and replace them with outsider GE alumni. Here's a look into Menear's life and career: Source: San Diego Tribune, USA Today, Forbes, Source: Federal Election Committee, CNBC, The Center for Responsive Politics. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . Home Depot forced a worker to quit after he wore a slogan supporting the Black Lives Matter movement on his apron, and it threatened to punish other employees who tried to bring . Got a confidential news tip? He donated nothing to Democratic or liberal figures, according to the Center for Responsive Politics. President Trump's 'opening the country' council features several political donors and supporters . Logistics is huge, and if you step back to just twelve years ago, our business has changed pretty dramatically [since then], he explained at a 2018 Michigan leadership summit.
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