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! "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.". 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. 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. Prior to that, Menear had been the company's chief executive since 2014. 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. Biography of Craig Menear. 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. 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. Sign up for notifications from Insider! If somebody had said, Okay, Frank, here blank sheet of paper. Youve always got to be aware of what youre competing against but weve learned this the hard way, laments Menear. Transactions of nine hundred dollars or more, which represent around 20% of Home Depots sales in the United States, began stabilizing by the start of 2010. Marcus in particular has once again made headlines by vowing to support. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. Decker took over as CEO in . Menear has donated to the Home Depot Political Action Committee over the years. Before joining The Home Depot in 1997, Craig served in various roles with retailers such as IKEA, Builders Emporium, Grace Home. 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 . He worked his way through, and in 2007 he was named the Vice President of Merchandising. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. ET and ABC News Live at 4 p.m. Over the course of 11 years, the ex-Home Depot executive gave the Atlanta-based chain's namesake PAC a total of $8,100. This net worth approximation does not reflect any other investments that Mr. Menear may own. He previously served as chief merchant and executive vice president of merchandising. As of 14 November 2018, the estimated net worth of Craig Menear was more than $85.1 Million. You can find out more information about Menear and the work he has put into The Home Depot online. Enjoy our content? There are several fast food restaurants that have expanded over the past few years and should continue to grow over the next year. In 2019, Marcus said he would donate a portion of his billions to the president's re-election campaign. Family Life. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. He also explained that Dawn had been a great source of support throughout his career. Recruited from General Electric, Robert Nardelli was CEO of The Home Depot between 2000 and 2007, his tenure at the home improvement giant has since been scrutinized by analysts as far-reaching as the Wharton School of Finance, where one published study argueshe brought the wrong toolbox to the job. Home Depot CEO Craig, age 63, was born in Flint, Michigan in around 1958. He is replaced by former executive vice president Ted Decker. But how did he come to run the company in the first place? 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. By DEE-ANN DURBIN January 27, 2022. Home Depot Inc on Thursday named 22-year company veteran Edward Ted Decker as its new chief executive officer and president, replacing Craig Menear, who will continue as chairman. However, these actions were met with backlash from the public. Craig Menear has created a big name for himself in the business of home improvement. The Home Depot has become a household name in house renovations, all under the leadership of Craig. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. I couldnt do this without her, he humbly admitted to the Atlanta Business Chronicle in 2018. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. He will be replacing Craig Menear, who has been . I remember that. 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? 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. All Rights Reserved. . 38/$15,620. Both public and private colleges are competing for a limited number of students. Frank Blake has been Home Depot's chairman and CEO . Monday, January 31, 2022 6:11 AM UTC. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. He's spent the vast majority of his career dealing with complex logistics, the expectations of builders and home . Have you ever looked at a company or brand and wondered who runs the show? Learn how your comment data is processed. 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. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. 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. 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. Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. The company itself used to be involved in sports science but these days, its making a significant move toward healthcare. That makes a difference, believes Frank Blake. With the $11 billion investment, we told our investors well actually produce an ROIC north of 40.. Craig Menear Chairman and Chief Executive Officer. Public asset : 66,160,504 USD. How it started and how to protect yourself: Tracking the spread in the US and Worldwide. In January 2022, The Home Depot announced that he would step . Bernie Marcus attends Lord & Taylor toasts Georgia Aquarium founder Bernie Marcus at Del Posto, April 18, 2007, in New York City. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. 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. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . The Home Depot is doing better than ever in the tool and home improvement industry, and continues to make strides in the ever changing society in which we live. Linked companies : No connection available. He attended Flint Central High School. His first post-grad job was at Montgomery Ward, a department store chain. And when it comes to political contributions, Home Depot and Lowe's both happen to reflect the conservative tendencies of many prominent retailers. Its worth noting that while board room deliberations ensued regarding Blakes successor, the companys head of U.S. stores, Marvin Ellison and CFO Carol Tome were also potential contenders for the top spot. 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. from 1999 to present. "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. [6] He was given $11.5 million in 2016. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . You are already subscribed to our newsletter! Marcus and Langone have spent millions supporting Republican and conservative causes over the years. 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? In November 2014, he became the SEO of the company and has served as its chairman since February 2015. 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. 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. 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. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. The American entrepreneur cannot be contacted directly via his personal details. 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. 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.. 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. } 2023 CNBC LLC. He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. 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. 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. 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. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. He donated nothing to Democratic or liberal figures, according to the Center for Responsive Politics. 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. [3], Menear was educated at the Flint Central High School, graduating in 1975. "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. 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 a long-time Home Depot veteran, Craig lives our . Craig Menear is an inspiration to all the upcoming businesspersons. Read more about the author Craig Menear at L'ATTITUDE. By clicking Sign up, you agree to receive marketing emails from Insider window.mc4wp.listeners.push( Has Worked For More Than Just The Home Depot. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Stephen Schwarzman, CEO of the asset management group Blackstone, will join the council's financial services and real estate groups. Political Action Committee, according to FEC data. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. He is one of the legendary news anchors in America today. Quickly connect with Craig before . A Division of NBCUniversal. Home Depot is the largest home improvement retailer in the United States. Craig Menear (born c.1958) is an American business executive. Following publication of this report, White House deputy press secretary Judd Deere issued a brief statement to ABC News. Menear has donated to the Home Depot Political Action Committee over the years. 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. 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 Menear. Alma Mater. His father was a tool and die maker at Flint General Motors. In 2007, he was appointed executive vice president of merchandising. "You need to have public health professionals, you need somebody who represents the grocery workers, somebody who represents hospitality workers, and so on.". Under his leadership, the company continues to give quality services in supplying tools, construction products. Retail, among the industries hit hardest by the pandemic, received significant representation. We want to hear from you. The company is involved in renovating or making additions to houses. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 Democrats received 30% of an overall contribution of $1,977,250. Menear has donated to the Home Depot Political Action Committee over the years. Home Depot on Thursday also announced a new $15 billion share-buyback program. 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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. In 2021, the company had 490,600 employees and more than $151 billion in revenue. Text. Holifields team then proceeded to engineer and execute on the companys supply chain transformation, adding a network of eighteen Rapid Deployment Centers to supply stores with unprecedented efficiency. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat.

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