Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. . Public asset : 66,160,504 USD. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. [1][2], Menear began his career at several retailers. People go: Got it. [1][2] His father worked as a tool and die maker for General Motors. Craig Menear, the company's new CEO, is a veteran merchant who lights up when discussing the capabilities of power tools. 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. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. Over the course of five years, the internal funding should spur innovations in everything from store enhancements and new e-commerce solutions to industry-leading delivery options, and a comprehensive ecosystem conducive to professional contractors (Pro). Alma Mater. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. 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. Home Depot is the largest home improvement retailer in the United States. Craig Menear in Washington | Photos | Reviews | 18 building permits. window.mc4wp = window.mc4wp || { forms: { He replaces former CEO Craig Menear, who will retire as chair Sept. 30. They have also lived in Monrovia, CA and Kingston, TN. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. Both have vocalized consistent support for US President Donald Trump. Menear was born c.1958 in Flint, Michigan. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. We want to hear from you. While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. 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. Enjoy our content? 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 . The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. By DEE-ANN DURBIN January 27, 2022. He also explained that Dawn had been a great source of support throughout his career. That makes up around 9% of the PAC's current cycle to-date disbursements. In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. They invested about $11 billion in the improvement of . Decker, who has . { While glancing at his 13 years company's stock transaction . 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. You can help Wikipedia by expanding it. 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. window.mc4wp.listeners.push( Home Depot Inc. said Craig Menear, who took over as chief executive in November, received total compensation last year that was valued at $10.2 million. On August 21st of 2014, The Home Depot announced that Craig Menear, then president of U.S. retail, was named CEO and president, effective November 1, 2014. For some retailers, fewer in-person . Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. Throughout the most recent years, it has shown greatly that The Home Depot has some of the best records when it comes to the stock market, and it is all thanks to the leadership of Mr. Craig Menear. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. Retail, among the industries hit hardest by the pandemic, received significant representation. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Home Depot on Thursday also announced a new $15 billion share-buyback program. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. Long before he got named The Home Depot CEO, Craig Menear was born in 1958 and raised among the bustling automobile manufacturing factories of Flint Michigan, a blue-collar town that once boasted some nine General Motors (GM) plants. His father was a tool and die maker at Flint General Motors. When I joined the company, we were still decentralized, 75% of our goods went direct from the manufacturer to each individual store, and as the business evolved, that supply chain just didnt work anymore; it was really inefficient.. JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. Craig Menear is an inspiration to all the upcoming businesspersons. Dealing a further blow to internal morale, he also increased the number of less knowledgeable part-time workers at Home Depots stores, which left full-time employees fuming and led to a diminishment of customer service, one of the companys strengths, recounted Barry Henderson, an equities expert at T. Rowe Price. Both public and private colleges are competing for a limited number of students. But the recurring partisan controversy fails to capture the fact that both home improvement companies skew conservative when it comes to political giving a tendency they share with many major retailers. Updated April 6, 2015 6:34 pm ET. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. With the exception of Ellison, the top brass at both home improvement giants largely favor donating to their employer's designated PAC, as well as the occasional specific politician or campaign. } You have to stay focused on the customers needs and when you lose that focus, bad things happen. Palmer's real estate firm G.H. [3], Menear was educated at the Flint Central High School, graduating in 1975. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. The White House announced the appointment of 220 individuals this week assembled by President Donald Trump to serve on an advisory council to assist the White House coronavirus task force in developing a plan to restart the U.S. economy. 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? Account will be deleted and I will shop at Lowes! Home Depot has seen tremendous growth during the pandemic, as nesting trends and a strong housing market inspired Americans to invest in their homes or move to bigger places. Access your favorite topics in a personalized feed while you're on the go. Together, they worked on several home improvement projects. Biography of Craig Menear. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. Net sales increased 44 percent to $108.5 billion in the first quarter, after already increasing 38 percent to $386.1 billion during the full year of 2020. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. Mr . Of course, eager investors rewarded the stock by skyrocketing its value throughout the nationwide lockdown period to the tune of a record high of $339 per share in May 2021. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Dating back to January 21, 2005, Menear has donated $97,921.16 to the Home Depot Inc., Political Action Committee. Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. Briefly.co.za recently published an article about Brian Williams' biography. Learn more about the background of Craig Menear, the highly respected CEO of The Home Depot and his perspective on leadership and the future of business in a. [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. Teddy W Solomon says: April 4, 2021 at 5:19 pm. The councils seemingly crucial healthcare group, for example, is represented mainly by pharmaceutical companies like Pfizer and Johnson & Johnson and insurance companies such as Aetna and Cigna rather than public health professionals. As of 14 November 2018, the estimated net worth of Craig Menear was more than $85.1 Million. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. Since then, he has become a regular donor to his alma mater throughout the years. event : evt, Between the day Craig Menear was made chief executive in 2014 and December 2017, The Home Depots single share value increased from roughly $92 to $192, at which point, the company revealed a plan to invest north of $11 billion to position itself as One Home Depot.. Connie Snyder: What do you know about Steve Ballmer wife? His first job was at Montgomery Ward, a department store chain. "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. Weve done a number of things throughout our facilities to be able to be more flexible, were working on expanding childcare services, and weve changed the configuration of our buildings in order to facilitate more team integration, Menear explains. Age : 63. He will be replacing Craig Menear, who has been . Craig Menear tries to be on the store floor of a Home Depot almost every week. Decker began as a director of business valuation and served as executive vice president of merchandising before being named chief operating officer and president in October 2020. "His ability to blend the art and science of retail is exactly what is needed in the next phase of growth for The Home Depot," Menear said in a news release. } The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. Menear was born in Flint, Michigan, USA, in the year 1958. While Lowe's lacks a set of high-profile, long-retired Republican mega-donor founders to match those at Home Depot, differences between the two companies' political contribution strategies are thinner that a skim coating of paint. In fiscal 2013, the company reached sales of $78.8 billion and earnings of $5.4 billion. Menear has donated to the Home Depot Political Action Committee over the years. With over 10 years experience he's covered businesses, CEOs, and investments. He became president and COO in October 2020. The American entrepreneur cannot be contacted directly via his personal details. A persistent Spartan, hed drive the aging aforementioned vehicle to and fro the college campus where he slogged his way through two years of math and statistics that didnt come easy. Author: Lois Furry. Menear has donated to the Home Depot Political Action Committee over the years. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. 2016 Election Cycle. Around ten years old, Craig remembers noticing a girl about the same age living just five houses down from him, her name was Dawn. The American businessman has kept much of his personal life out of the spotlight. on: function(evt, cb) { Decker took over as CEO in March, when Menear stepped down from that role. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. If somebody had said, Okay, Frank, here blank sheet of paper. Photo by Patrick James Miller for Fortune The breach was, unquestionably . "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. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. Marcus in particular has once again made headlines by vowing to support. During Blakes tenure, Home Depots stock rose more than 100%, by the end, they were operating the worlds largest home improvement specialty retailer, with 2,265 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, and Mexico. His first post-grad job was at Montgomery Ward, a department store chain. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. However, as of 2021, he is 63 years old. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . 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. A Division of NBCUniversal. Other prominent Trump donors on the council include Harold Hamm of Continental Resources, Paul Singer of Elliot Management, New England Patriots owner Bob Kraft, and M Crowd Restaurant owner Ray Washburne. Join the Brooksy Society by subscribing to our Monthly Newsletter! In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. Following his brief stint with the fledgling clothing store, Ellison got named CEO of Lowes, an international home improvement retailer that is largely considered his previous employers most fervent competitor. 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. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . [8], Menear is a donor to his alma mater, Michigan State University. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. The Home Depot has become a household name in house renovations, all under the leadership of Craig. He serves as the chairman and is the former chief executive officer of The Home Depot. Has Been Known As The Darling Of Wall Street, 7. 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. Craig Menear; Director ejecutivo de The Home Depot Actualmente en el cargo; Desde el 01 de noviembre de 2014: Informacin personal; Nacimiento? And some council members such as Amazon CEO Jeff Bezos, Apple CEO Tim Cook, and Facebook CEO Mark Zuckerberg have at times been vocal in their opposition to the president and his agenda. 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. "You need to have public health professionals, you need somebody who represents the grocery workers, somebody who represents hospitality workers, and so on.". 5. You could say that Menear has had a love for home improvement instilled in his blood from a young age. Home Depots stock value dropped 8% by the time Nardelli was exiled by the companys board in 2007, for comparison, during that time, Lowes shares soared some 180%. Home Depot founders and Republican mega-donors Ken Langone and Bernie Marcus have attracted controversy over their donations to Republican groups and politicians, including US President Donald Trump. 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. Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. The company currently has around 2200 stores and 400,000 associates. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. Mr Menear, getting involved in political statements. So, while the home improvement giants and the more high-profile founders in the industry may favor Republican candidates at the moment, the partisan donation gap may be starting to balance out. In total, ABC News identified at least 25 individuals appointed to the advisory council who have made substantial donations to his political campaigns or to outside groups supporting his presidency, raising concerns among prominent ethics watchdogs. We will stand up and speak up, hitting Home . 38/$15,620. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. What are the admission requirements to study medicine at UCT 2022? He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. 6. You are already subscribed to our newsletter! The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. "President Trump, who has already brought together the private sector and federal government for unprecedented collaboration during the COVID-19 pandemic, is beginning a dialogue with prominent and successful individuals across multiple industries with different backgrounds and skillsets for the monumental task of re-opening the American economy," Deere wrote. In January 2022, The Home Depot announced that he would step . Menear was born and raised in Flint, Michigan to his family back in 1958. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). Corporations have also been active political spenders at the state level. 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. For more information on making a gift to the Broad College of Business, contact Senior Director of Development Vivian Leung at leungv@msu.edu or call (517) 355-8504. In 2019, Marcus said he would donate a portion of his billions to the president's re-election campaign. Of Lowe's eight-person executive team, seven members including Ellison came to work at the company in 2018 or later. President Trump's 'opening the country' council features several political donors and supporters . In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. But Id say, the most important thing, that weve found spans across generations, is: people want to understand the strategy of your company, they want to understand how they fit in that, and how they contribute to that.. Craig Menear has been climbing the ladder at Home Depot for years and not one of the orange metal ones that employees use to grab products off high shelves. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. Craig Menear Chairman & Chief Executive Officer. Decker took over as CEO in . Tune into ABC at 1 p.m. callback: cb "And you do have to question whether some of these people would have been included if they weren't major financial supporters of the president and his party.". For Menear, one of his most important tasks when taking over as CEO was keeping the company customer centered while also keeping up with the advancing technology that has taken over our society. Select this result to view Craig Albert Menear's phone number, address, and more. Youve always got to be aware of what youre competing against but weve learned this the hard way, laments Menear. Who makes the tough business decisions to keep the company prosperous and overwhelmingly popular throughout the course of its history, and in this tough society? In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. Digital sales rose 80% year over year, furthermore, customers picked up about 60% of those orders at a physical store. With this being said, his executive staff has dedicated a lot of time, energy, and effort to making sure they are clearly communicating their approach, strategy, and how each team member has a profound impact on achieving The Home Depots outlined goals. Through his able leadership, the company has grown significantly. Frank Blake has been Home Depot's chairman and CEO . Menear has donated to the Home Depot Political Action Committee over the years. Check your inbox to be the first to know the hottest news. Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. "It's bizarre to me that there's nobody representing public health," Virginia Canter, chief ethics counsel at Washington-based advocacy group Citizens for Responsibility and Ethics in Washington, told ABC News. Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. Get this delivered to your inbox, and more info about our products and services. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. At least 25 individuals have made substantial donations in support of Trump. Marcus and Langone have spent millions supporting Republican and conservative causes over the years. Political Action Committee, the . In this article, we are going to reveal to you ten things that you may not have known about Menear, and his time on top in The Home Depot company. Even as the pandemic took hold shortly thereafter, demand for construction-type products actually soared due to homeowners being quarantined inside all day long with not much to do but pursue do-it-yourself projects around their household. Linked companies : No connection available. 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 . 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. 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. I know what that felt like. If you take care of your associates and take care of your customers, everything else takes care of itself., On August 21st of 2014, The Home Depot announced that Craig Menear, then president of U.S. retail, was named CEO and president, effective November 1, 2014. Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. Country of residence : Unknown. All Rights Reserved. He has been ranked 29th in the top 1000 CEOs of private and public companies. Others Named Craig Menear. Menear has donated to the Home Depot Political Action Committee over the years. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. Follow Craig Menear on LinkedIn to get to know them better. The Hispanic and Latino community are a huge clientele and work force of Home Depot, affording Home Depot in reaching the pinnacle of a successful corporation. 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. 2020 Transaction Count/Amount. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. He serves as the chairman and is the former chief executive officer of The Home Depot. Want to connect with other businesses in the Latino community? Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. This article about an American businessperson born in the 1950s is a stub. Craig Menear Political Contributions in 2020. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. 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. Starting in 2018, the company began spending $1.2 billion to open about 150 supply chain facilities over five years including giant centers geared toward home professionals. The Home Depot on Thursday named a veteran executive as its new CEO. Many Wall Street analysts attempted to make sense of the dramatic sales spike and what it could mean for future investors, here is a take from CNBCs Squawk Box covering the home improvement giants quarterly results: About 45% of Home Depots total sales come from Pro customers, and according to CNBC, as the pandemic winds down, they are seeing pent-up demand for professional projects as people feel comfortable inviting contractors back into their homes. However, these actions were met with backlash from the public. All Rights Reserved. Got a confidential news tip? Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. With fresher, Read More The Top Five Fast Food Franchises of 2017Continue, Steven Spielberg ranks as one of the most iconic and respected directors in the history of American cinema. Stephen Schwarzman, CEO of the asset management group Blackstone, will join the council's financial services and real estate groups. Home Depot's Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career.
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