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. As published in the Atlanta Business Chronicle on June 1, 2018In early 2014, three people were in the running to succeed Frank Blake as CEO of The Home Depot Inc. Craig Menear, who eventually . The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Learn More about Craig A. Menear's net worth. 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. 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. Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. 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. 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. A Division of NBCUniversal. Atlanta-based Home Depot is a major political player in Georgia. Outgoing CEO Craig Menear will continue to serve as chair of the board. Connie Snyder: What do you know about Steve Ballmer wife? 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? Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. But Home Depot's successunder the helm of president and CEO Craig Menearalso can be attributed to internal restructuring to improve profitability. Craig Menear's house is located near The Home Depot headquarters in Atlanta, Georgia, where he lives with his wife, Dawn and two daughters. This article about an American businessperson born in the 1950s is a stub. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: That makes up around 9% of the PAC's current cycle to-date disbursements. 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. 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. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. Shares of the company were effectively flat after hours. 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. As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. Political Action Committee, the . While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. What are the admission requirements to study medicine at UCT 2022? 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. The show airs every weeknight at 11 pm Eastern Time on MSNBC. 2. He is replaced by former executive vice president Ted Decker. By clicking Sign up, you agree to receive marketing emails from Insider In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. ADVERTISEMENT. The founding team at Home Depot longtime home improvement executives Bernie Marcus and Arthur Blank, investor Ken Langone, and merchandising expert Pat Farrah. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. But scattered among them are several of Trumps friends, supporters, and political donors. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. Home Depot CEO Craig, age 63, was born in Flint, Michigan in around 1958. The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. The Home Depot on Thursday named a veteran executive as its new CEO. Sign up for free newsletters and get more CNBC delivered to your inbox. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. You could say that Menear has had a love for home improvement instilled in his blood from a young age. "Craig is always careful not to make the success of The Home Depot about him, but to make it about all of the team," said Frank Blake, Menear's predecessor as CEO, serving in the role from . window.mc4wp = window.mc4wp || { In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. He serves as the chairman and is the former chief executive officer of The Home Depot. They outrank your supervisor. 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. His first post-grad job was at Montgomery Ward, a department store chain. Menear has donated to the Home Depot Political Action Committee over the years. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. { Menear was born c.1958 in Flint, Michigan. 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. The idea is to further unlock the interconnected retail vision the company began building many years ago. We want to hear from you. Data is a real-time snapshot *Data is delayed at least 15 minutes. on: function(evt, cb) { Menear has donated to the Home Depot Political Action Committee over the years. You have to stay focused on the customers needs and when you lose that focus, bad things happen. 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 . How it started and how to protect yourself: Tracking the spread in the US and Worldwide. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. from 1999 to present. } Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. The Home Depot has become a household name in house renovations, all under the leadership of Craig. If somebody had said, Okay, Frank, here blank sheet of paper. Others Named Craig Menear. Marcus in particular has once again made headlines by vowing to support. 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. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. 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. We will stand up and speak up, hitting Home . 5. 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. As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. Tune into ABC at 1 p.m. The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. 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. "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. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. "I have tremendous confidence that he will guide our company to new heights.". "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. Menear started at Home Depot in 1997, and Decker began his tenure there in 2000. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . In addition, he makes $10,889,800 as Chairman of the Board a Chief Executive Officer at Home Depot. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. Stay up to date with what you want to know. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. Craig Menear is chairman and CEO of The Home Depot, the world's largest home improvement retailer with more than 2,200 stores and 400,000 associates. 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. Not the Craig Menear you were looking for? Craig Menear Chairman and Chief Executive Officer. [2][4][5], Menear joined Home Depot in 1997. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Turn on desktop notifications for breaking stories about interest? He serves as the chairman and is the former chief executive officer of The Home Depot. Alma Mater. 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Fostering his own entrepreneurial spirit, as a kid, he set up a neighborhood lawn care business that triumphantly led to him purchasing his first car with personal savings. 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. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. Craig was named CEO and president in November 2014 and chairman in February 2015. Together, they worked on several home improvement projects. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. 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. However, we must acknowledge that he did have his helpful hands intimately engaged in numerous facets of the business throughout this monumental turnaround, areas as diverse as online presence, merchandising, private-brand, global sourcing, marketing operations, and obviously, merchandising. 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. 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. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. You can find out more information about Menear and the work he has put into The Home Depot online. Craig Menear tries to be on the store floor of a Home Depot almost every week. Under his leadership, the company continues to . With over 10 years experience he's covered businesses, CEOs, and investments. 2020 Transaction Count/Amount. Many people are familiar with him because of his decade-long stint in the media industry. He is one of the legendary news anchors in America today. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. 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. Teddy W Solomon says: April 4, 2021 at 5:19 pm. [6] He was given $11.5 million in 2016. 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! In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. Mr. Menear owns over 68,468 units of Home Depot stock worth over $71,783,125 and over the last 16 years he sold HD stock worth over $14,995,979. 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. Got a confidential news tip? 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 . It should be no surprise that Craig Menear has had the success to become a millionaire during his career. That makes a difference, believes Frank Blake. A Home Depot store is seen in Washington, DC, on August 18, 2020. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. Through his able leadership, the company has grown significantly. Country of residence : Unknown. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Craig Menear. Mr Menear, getting involved in political statements. 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. Home Depot's Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. 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.. "President Trumps policies built a booming economy and they will do so again.". Hell do an outstanding job leading our company in the years ahead.. 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. Updated April 6, 2015 6:34 pm ET. There's a video about it on MyApron and probably on loop in your break room too. Menear has donated to the Home Depot Political Action Committee over the years. "You need to have public health professionals, you need somebody who represents the grocery workers, somebody who represents hospitality workers, and so on.". Bernie M. Has Been Known As The Darling Of Wall Street, 7. Thats right. "As a long-time Home Depot veteran, Craig lives our . . U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . 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. Download all contribution records for this person. Over the past year, Home Depot has consistently been hammered online over the conservative political stances of two of its founders: Bernie Marcus and Ken Langone. 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. 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. Following publication of this report, White House deputy press secretary Judd Deere issued a brief statement to ABC News. 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. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. When Craig Menear started looking for work after college, he wasn't really interested in retail, and he certainly did not imagine one day running the world's largest home improvement retailer. 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. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. Garrett by trade is a personal finance freelance writer and journalist. 2 homedepot.com.trackapp.io; homedepot.com; 5+ 678362XXXX; 678-462-XXXX; 678-362-XXXX; 678-461-XXXX; 770-384-XXXX . The company currently has around 2200 stores and 400,000 associates. The Home Depot announced late last week that it had appointed Ted Decker as its new chief executive officer. This site uses Akismet to reduce spam. Monday, January 31, 2022 6:11 AM UTC. Since Targa Resources is a member of the Fortune 500 list, this means that Perkins possesses considerable influence when it comes to the companys specialties, which, Read More 10 Things You Didnt Know about Targa Resources CEO Joe Bob PerkinsContinue, Are you looking to start a fast food restaurant franchise? Menear said 98 words. 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. Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. "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. He has been ranked 29th in the top 1000 CEOs of private and public companies.