window.mc4wp = window.mc4wp || { Observers have cited the North Carolina-based company's financial support of minority-owned businesses and its current CEO Marvin Ellison's status as one of four Black Fortune 500 CEOs. But how did he come to run the company in the first place? In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. window.mc4wp.listeners.push( He has made the occasional one-off donation to other, largely Republican, candidates and campaigns, including now-Sen. Mitt Romney's presidential run, Jeb Bush, and David Perdue. "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.". The foundation has nearly doubled its political giving since 2018. 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. So far in 2020, Lowe's' PAC has given a total of $540,500 to politicians, with a breakdown of 30% in contributions to Democratic candidates and 70% in giving to Republican contenders. The company's statement didn't give a reason for Menear's retirement. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. on: function(evt, cb) { The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. 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. Age : 63. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. Menear has been into entrepreneurship from an early age. Frank Blake has been Home Depot's chairman and CEO . In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. The new CEO will be Craig Menear, Atlanta-based Home Depot announced Thursday after the stock market closed. JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. There's a video about it on MyApron and probably on loop in your break room too. Menear began working at Home Depot in 1997. Sign up for notifications from Insider! During his childhood, he had a lawn care business with which he bought his first car. Thats right. 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. Enjoy our content? 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. Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. Richard Mcvey: age, children, first wife, height, career, profile, worth. "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. Contribution Totals. The American entrepreneur cannot be contacted directly via his personal details. Together, they worked on several home improvement projects. 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. His father was a tool and die maker at Flint General Motors. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. The Home Depot on Thursday named a veteran executive as its new CEO. Menear, 57, has been president of the company's U.S. retail operations since February . Menear has donated to the Home Depot Political Action Committee over the years. Got a confidential news tip? Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. forms: { Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. 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. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Menear actually began his career with The Home Depot in 1997, and worked his way from the bottom to the top. 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. Craig Menear Chairman & Chief Executive Officer. 24/7 coverage of breaking news and live events. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: Marcus and Langone have spent millions supporting Republican and conservative causes over the years. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. Both public and private colleges are competing for a limited number of students. Atlanta-based Home Depot is a major political player in Georgia. Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. He has been ranked 29th in the top 1000 CEOs of private and public companies. Data is a real-time snapshot *Data is delayed at least 15 minutes. Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. 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. 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. 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. . 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. 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 the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. Got a confidential news tip? 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. 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. President Trump's 'opening the country' council features several political donors and supporters . 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.. He lives with his wife, and the couple also has two daughters. His first job was at Montgomery Ward, a department store chain. This net worth approximation does not reflect any other investments that Mr. Menear may own. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. We lost that focus in the mid-2000s and candidly, we blew one of the biggest housing booms this country has ever seen in the 2004, 2005, 2006 era.. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. The company is involved in renovating or making additions to houses. Learn how your comment data is processed. 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. 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. 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. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. You could say that Menear has had a love for home improvement instilled in his blood from a young age. 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 . Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. Both have vocalized consistent support for US President Donald Trump. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. Political Action Committee, according to FEC data. 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. And is Lowe's its liberal counterpart? Updated April 6, 2015 6:34 pm ET. "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. He then worked at Builders Emporium and was also a distribution manager at IKEA. de 1958 Flint, Mchigan, Estados Unidos: Nacionalidad: Estadounidense: (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. Craig Menear politics. He previously served as chief merchant and executive vice president of merchandising. It [the investment] will also go into our associates in forms of both wage benefits and technology to help them do their job, Menear adds in a brief chat with Bloomberg. Home Depot on Thursday also announced a new $15 billion share-buyback program. While glancing at his 13 years company's stock transaction . Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. 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. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. The founding team at Home Depot longtime home improvement executives Bernie Marcus and Arthur Blank, investor Ken Langone, and merchandising expert Pat Farrah. { [1] He became executive vice president of merchandising in 2007. 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. Tune into ABC at 1 p.m. Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. We will stand up and speak up, hitting Home . Global Business and Financial News, Stock Quotes, and Market Data and Analysis. } 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). Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. In 2007, he was appointed executive vice president of merchandising. 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. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. Outgoing CEO Craig Menear will continue to serve as chair of the board. 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 . . By DEE-ANN DURBIN January 27, 2022. Prior to that, Menear had been the company's chief executive since 2014. Hell do an outstanding job leading our company in the years ahead.. Changing the basis of, Read More 10 Things You Didnt Know about Mohit KumarContinue, What do you know about the Chief Technical Officer and co-founder of online chat platform Omegle, Leif K-Brooks? 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%. 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. 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. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. 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. But Home Depot's successunder the helm of president and CEO Craig Menearalso can be attributed to internal restructuring to improve profitability. 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. Menear was named to Trump's Great American Economic Revival advisory group for retail earlier this year Craig Menear has created a big name for himself in the business of home improvement. 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. Following publication of this report, White House deputy press secretary Judd Deere issued a brief statement to ABC News. Craig Menear is chairman, CEO and president of The Home Depot. Menear started at Home Depot in 1997, and Decker began his tenure there in 2000. Executing a move that initially left some scratching their heads, the board appointed Frank Blake CEO after Nardellis departure, he had come from GE as well, and many feared a catastrophic repeat of the past seven years. In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. 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. 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. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. Adelson did not respond to a request for comment. 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. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: MENEAR, CRAIG MARIETTA, GA 30068: Home Depot Product Authority,/Home Depot Product Authority,/Chairman Ceo And President: $192: 12/20/2019: P: THE HOME DEPOT INC. Bernie Marcus attends Lord & Taylor toasts Georgia Aquarium founder Bernie Marcus at Del Posto, April 18, 2007, in New York City. Details of his birthday and month are yet to be revealed. 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 . Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. 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. Recent work: Johnson/brooks single family residence - window rpl rmv/rpl 3 windows; no structural changes. Home Depot's vice president of corporate communications and external affairs issued a brief statement in response to questions from ABC News. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. Donald Trump, left, and his partner, developer Phil Ruffin, speak during an opening ceremony for the Trump International Hotel & Tower Las Vegas, April 11, 2008, in Las Vegas, Nevada. Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. Stay up to date with what you want to know. His skills can be looked up to and learned from. Garrett by trade is a personal finance freelance writer and journalist. 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. U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . "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 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! Home Depot Inc. He has also served as a Chairman for the company since 2015. The second best result is Craig Allen Menear age 40s in Valparaiso, IN. At least 25 individuals have made substantial donations in support of Trump. Craig brings decades of retail experience from mass, home center, specialty and big box retailing to his role during a time when the retail landscape is rapidly changing. He is on the Board of Directors at Retail Industry Leaders . ADVERTISEMENT. Of Lowe's eight-person executive team, seven members including Ellison came to work at the company in 2018 or later. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. Monday, January 31, 2022 6:11 AM UTC. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. Craig Menear, the company's new CEO, is a veteran merchant who lights up when discussing the capabilities of power tools. Marcus in particular has once again made headlines by vowing to support. Country of residence : Unknown. Menear was born in Flint, Michigan, USA, in the year 1958. [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 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. 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. 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. Craig Menear (born c. 1958) is an American business executive. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. The American businessman has kept much of his personal life out of the spotlight. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Mr Menear, getting involved in political statements. Since then, he has become a regular donor to his alma mater throughout the years. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. } [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. Craig Menear Political Contributions in 2020. 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. We want to hear from you. A Division of NBCUniversal. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. 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. 2. He lives with his wife, and the couple also has two daughters. Account will be deleted and I will shop at Lowes! Over the course of 11 years, the ex-Home Depot executive gave the Atlanta-based chain's namesake PAC a total of $8,100. A Home Depot store is seen in Washington, DC, on August 18, 2020. 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! 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. 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. 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. 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. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. [6] He was given $11.5 million in 2016. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. 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. Mr . Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. For one of the co-founders, Bernie Marcus, to support a xenophobic, misogynistic, racist bigot like Donald Trump and stand by his divisive, hateful rhetoric is beyond acceptable and appalling. Digital sales rose 80% year over year, furthermore, customers picked up about 60% of those orders at a physical store. 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. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. 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.
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