But Home Depot's successunder the helm of president and CEO Craig Menearalso can be attributed to internal restructuring to improve profitability. 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. Got a confidential news tip? Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. Home Depot CEO - Craig Menear (Age 63) - ListOfCEO 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. 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. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. Menear was born c.1958 in Flint, Michigan. 10 Things You Didnt Know about Targa Resources CEO Joe Bob Perkins, The Top Five Fast Food Franchises of 2017, The 10 Highest Grossing Films Directed by Steven Spielberg, 10 Things You Didnt Know about Mohit Kumar, 10 Things You Didnt Know about Leif K-Brooks, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. Reply. Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. [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. If you enjoyed this story on the life of Home Depot CEO Craig Menear, be sure to check out our biography of Lowes CEO Marvin Ellison! His family also took part in the tool and improvement industry, as his father worked as a tool maker and dye maker for the company General Motors. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. 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. Like other CEOs, Craig has been vocal about his political stand in the US elections. Craig Menear Chairman & Chief Executive Officer. 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. 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.. callback: cb What do you think about the CEO of Home Depot donating all his - Quora The Center for Responsive Politics found that in the year 2020, donations in the retail sphere have been more even across the political spectrum than usual. Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. Craig Menear Political Contributions in 2020. Menear, 57, has been president of the company's U.S. retail operations since February . "Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles," said Blake. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Don't Compete with Inevitable Craig Menear, CEO Home Depot Learn how your comment data is processed. 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. Marcus and Langone have spent millions supporting Republican and conservative causes over the years. In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). Craig Menear: Home Depot Up until about 2013, Home Depot was an excellent place to drive over and grab what you needed for your special project. But scattered among them are several of Trumps friends, supporters, and political donors. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. A Division of NBCUniversal. In November 2014, he became the SEO of the company and has served as its chairman since February 2015. Atlanta-based Home Depot is a major political player in Georgia. Menear actually began his career with The Home Depot in 1997, and worked his way from the bottom to the top. All Rights Reserved. Craig Menear Net Worth, Biography, and Insider Trading Political Action Committee, according to FEC data. POLITICAL ACTION COMMITTEE: Youve always got to be aware of what youre competing against but weve learned this the hard way, laments Menear. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. Craig Menear. Home Depot Punished Worker for Black Lives Matter Logo, Labor Board The two youthful love birds were dating by junior high, eventually graduated hand in hand from Central High School, and forever sealing their vintage Americana status as high school sweethearts, got married during the mid-80s; over three decades later, they are still going strong! Quickly connect with Craig before . In 2006, Home Depot brought on Office Depot logistics veteran Mark Holifield as senior vice president of Supply Chain. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Through his able leadership, the company has grown significantly. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Adelson did not respond to a request for comment. "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. Palmer has also been one of Trumps most generous political donors, hosting multiple Trump fundraisers at his luxurious Los Angeles home and giving more than $10 million to the president's various fundraising vehicles, including Trumps presidential campaign, multiple Trump-aligned super PACs, and a legal defense fund set up to help pay legal bills for Trump allies caught up in Special Counsel Robert Mueller's investigation of Russian interference in the 2016 election. Prior to joining The Home Depot, he worked in a variety of roles in mass, home center and specialty retailing. Thats right. 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. . In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. 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. Among other initiatives, they plan on adding 170 distribution facilities across America to reach 90% of the U.S. population in one day or less, moreover, another goal is to open hubs that will consolidate the freight for dispatch on to final-mile delivery vehicles appliances for Interline MRO, Pro, and do it yourself (DIY) hobbyists delivery from DFCs, vendors, and stores, in about 100 locations. 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.. Menear has been into entrepreneurship from an early age. The show airs every weeknight at 11 pm Eastern Time on MSNBC. [1][2], Menear began his career at several retailers. Has Worked For More Than Just The Home Depot. Visit lattitude.net now! 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Craig Menear tries to be on the store floor of a Home Depot almost every week. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. However, as of 2021, he is 63 years old. To a Spreadsheet or Other File Type. . Of Lowe's eight-person executive team, seven members including Ellison came to work at the company in 2018 or later. 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. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. The Home Depot, Inc., often simply referred to as Home Depot, is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. He worked his way through, and in 2007 he was named the Vice President of Merchandising. 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? ADVERTISEMENT. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . How it started and how to protect yourself: Tracking the spread in the US and Worldwide. 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. Craig Menear replacing Frank Blake as Home Depot CEO - ajc Hell do an outstanding job leading our company in the years ahead.. Speaking to Atlanta Business Article, Craig mentioned that he met his wife in Michigan, his home state. [2][4][5], Menear joined Home Depot in 1997. Teddy W Solomon says: April 4, 2021 at 5:19 pm. 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. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. Outgoing CEO Craig Menear will continue to serve as chair of the board. 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 been at the retailer for more than 20 years and began as CEO in November 2014. Before joining The Home Depot in 1997, Craig served in various roles with retailers such as IKEA, Builders Emporium, Grace Home. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates, according to the Center for Open Politics. Boycott Home Depot (Co-founder supports Trump) | MoveOn Menear has donated to the Home Depot Political Action Committee over the years. Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. 2 homedepot.com.trackapp.io; homedepot.com; 5+ 678362XXXX; 678-462-XXXX; 678-362-XXXX; 678-461-XXXX; 770-384-XXXX . The pair has given $470,300 this year, with 99% of that money going to Republican candidates. Craig was named CEO and president in November 2014 and chairman in February 2015. Decker took over as CEO in . 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 said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. They all have backlogs. In order to best position themselves for this rush in Pro sales, Craig Menear and company have continued streamlining their delivery process, outfitting it to handle larger orders,while also ensuring they have stocked up on as much inventory as possible. Craig Menear (born c. 1958) is an American business executive. Menear was born and raised in Flint, Michigan to his family back in 1958. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. Updated April 6, 2015 6:34 pm ET. 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. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. Have you ever looked at a company or brand and wondered who runs the show? 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 . 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. Craig Menear - Wikiwand Trump advisers on reopening economy gave half-billion to Republican Home Depot Names Ted Decker as CEO - WSJ The Home Depot's (HD) CEO Craig Menear on Alliance - SeekingAlpha The Home Depot has become one of the more successful home improvement companies that Craig Menear has earned himself the 29th spot on the list of the top 1000 CEOs of private and public companies. 10 Things You Didn't Know About Home Depot CEO Craig Menear - Money Inc { 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.. Both men are company veterans. He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. In January 2022, The Home Depot announced that he would step . Sign up for free newsletters and get more CNBC delivered to your inbox. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. Craig Menear - Chairman, CEO and President - CrunchBase By clicking Sign up, you agree to receive marketing emails from Insider Craig Menear : r/copypasta - reddit Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. Home Depot co-founder Bernie Marcus, who retired more than 20 years ago but has given $7 million to super PACs supporting Trump, is listed in the councils retail group alongside Home Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given $2,700 to the Trump campaign, the maximum an individual can give to a campaign per election. Others in the loop would argue the contrary, that executives werent informed enough on the competition, given Lowes stellar rise; the one thing folks seem to universally agree about regarding this period in Home Depots history is its disheartening impact on all involved parties. The Home Depot, Inc. (NYSE:NYSE:HD) Alliance Bernstein 37th Annual Strategic Decisions Conference June 3, 2021 1:30 PM ETCompany ParticipantsCraig Menear - Chairman and Chief Executive. As of 14 November 2018, the estimated net worth of Craig Menear was more than $85.1 Million. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. 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 Home Depot - Wikipedia 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 . Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . But, what does the CEO of home depot make? "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. Atlanta, GA, US View. To find out, Business Insider analyzed Federal Election Commission data for Home Depot and Lowe's executives, as well as data from the Center for Responsive Politics. Pay for Home Depot's Craig Menear Totaled $10.2 Million Last Year Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. 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. Following his departure from that initial outfit, he took on roles among numerous home improvement retail companies (each notably vying in the field of do-it-yourself projects), such as Grace Home Centers, Builders Emporium, and IKEA, at one point, he was a distribution manager for the latter. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. [1] He became executive vice president of merchandising in 2007. That growth has continued, including in the most recent fiscal quarter, even as some consumers hired home professionals in lieu of do-it-yourself projects. Answer (1 of 47): I have stopped shopping at Home Depot and I greatly regret the many tens of thousands of dollars I have spent there in the past. Of course, its not easy working as the CEO and President of a company, but Craig Menear has surely proven himself in his role these past three years. This site uses Akismet to reduce spam. Ethics experts say it is certainly not the first time political donors have netted advisory posts. Craig Menear - RILA Corporations have also been active political spenders at the state level. Excelling academically, Craig Menear finished high school in the spring of 1975 and earned his way into Michigan State Universitys Eli Broad College of Business that next fall semester. Of the two, Menear is clearly the more frequent contributor to political campaigns, politicians, and his current company's PAC. Sign up for notifications from Insider! Craig Menear, the company's new CEO, is a veteran merchant who lights up when discussing the capabilities of power tools. 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. Craig Menear Wikipedia Republished // WIKI 2 Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. This net worth approximation does not reflect any other investments that Mr. Menear may own. Home Depot picks veteran Ted Decker as new CEO | CNN Business Menear started at Home Depot in 1997, and Decker began his tenure there in 2000. Menear has donated to the Home Depot Political Action Committee over the years. [3], Menear was educated at the Flint Central High School, graduating in 1975. } When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. . Work Biography for Craig Menear. After completing his university studies, the American businessman got into work at several retailers. Home Depot's Craig Menear upbeat about company's future However, these actions were met with backlash from the public. His skills can be looked up to and learned from. Read more here! He replaces former CEO Craig Menear, who will retire as chair Sept. 30. "Were happy to give input and ideas on the roadmap for reopening the economy, the statement reads, and were also doing this through Craigs participation with other organizations such as the Business Roundtable.". During his childhood, he had a lawn care business with which he bought his first car. 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. Now, the company will have to prove it can keep those sales going as Americans face rising prices due to inflation and potentially shift their spending toward services such as dining out and traveling. [7], In January 2022, The Home Depot announced he would be stepping down as the CEO and President effective March 1, 2022 while continuing to serve as the chairman of the board. 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. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. 2. 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. 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. 6. 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. Tune into ABC at 1 p.m. The American businessman has kept much of his personal life out of the spotlight.