Craig Menear is chairman, CEO and president of The Home Depot. He serves as the chairman and is the former chief executive officer of The Home Depot. Briefly.co.za recently published an article about Brian Williams' biography. Enjoy our content? In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). Menear has donated to the Home Depot Political Action Committee over the years. In 2019, Marcus said he would donate a portion of his billions to the president's re-election campaign. Download all contribution records for this person. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. (function() { 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. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. . 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. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. The Home Depot on Thursday named a veteran executive as its new CEO. He is one of the legendary news anchors in America today. The company itself used to be involved in sports science but these days, its making a significant move toward healthcare. The company's statement didn't give a reason for Menear's retirement. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. 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. However, he could be reached through his work contacts. 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? 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. on: function(evt, cb) { NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. Menear began working at Home Depot in 1997. Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. [6] He was given $11.5 million in 2016. Craig Menear is an inspiration to all the upcoming businesspersons. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Learn More about Craig A. Menear's net worth. "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 . His skills can be looked up to and learned from. He then worked at Builders Emporium and was also a distribution manager at IKEA. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. Following his brief stint with the fledgling clothing store, Ellison got named CEO of Lowes, an international home improvement retailer that is largely considered his previous employers most fervent competitor. In addition, he makes $10,889,800 as Chairman of the Board a Chief Executive Officer at Home Depot. While glancing at his 13 years company's stock transaction . "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. . We want to hear from you. Craig Menear - Chairman, Chief Executive Officer and President. 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. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. 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 . Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. 38/$15,620. Menear has donated to the Home Depot Political Action Committee over the years. However, these actions were met with backlash from the public. 2020 Transaction Count/Amount. })(); 15 Technical Indicators That Every Day Trader Should Know, grew 24.6% in the pandemics first quarter, Kraft Heinz CEO: Miguel Patricio Biography, 12 Inspirational Books David Friedberg Recommends, 10 Inspirational Books David Sacks Recommends Reading, 20 Inspirational Books Reid Hoffman Recommends Reading, 5 Inspirational Books Paul Tudor Jones Recommends, 20 Inspirational Books Nassim Taleb Recommends Reading, The 3 Best Day Trading Strategies for Beginners, 5 Chart Patterns Every Beginner Trader Should Know, How Day Trader Ricky Gutierrez Grew His YouTube Channel, How to Buy Your First Stock, with Ricky Gutierrez. Updated April 6, 2015 6:34 pm ET. Both public and private colleges are competing for a limited number of students. 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. Hed get a front-row seat to one of the greatest supply chain overhauls since Amazon began threatening the entire brick and mortar retail business community with speedy home delivery of goods spanning nearly every product category. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Home Depot's Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. Menear has been the company's chief executive officer and chairman since November 2014, succeeding Frank Blake in these positions. Craig Menear (born c. 1958) is an American business executive. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. Decker, who has . And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. 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.. "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.". He attended Flint Central High School. 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. 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. It seems that there really is no stopping Craig Menear, and his attempts to make the company all about the customer. 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. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. Outgoing CEO Craig Menear will continue to serve as chair of the board. 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. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. He previously served as chief merchant and executive vice president of merchandising. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. He attended the local high school in his area before expanding his horizons after college, and learning the ropes of his now popular industry. [3], Menear was educated at the Flint Central High School, graduating in 1975. Through his able leadership, the company has grown significantly. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. Fifty-one percent of Trump's billionaire donors did not give to the president's 2016 campaign. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. You are already subscribed to our newsletter! But Home Depot's successunder the helm of president and CEO Craig Menearalso can be attributed to internal restructuring to improve profitability. All Rights Reserved. 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. Text. Before making his way to The Home Depot, he worked for other independent construction retailers, and other companies (such as Ikea), where he learned the ropes in terms of online sales, marketing, and other business assets. Monday, January 31, 2022 6:11 AM UTC. Menear has donated to the Home Depot Political Action Committee over the years. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . Check your inbox to be the first to know the hottest news. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. Menear has been into entrepreneurship from an early age. They invested about $11 billion in the improvement of . "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. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. 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. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. References This . Reply. Menear has donated to the Home Depot Political Action Committee over the years. In 2007, he gained the title of Vice President of Merchandising for the company, which led to his becoming CEO in the fall of 2014. Stay up to date with what you want to know. Craig Menear has created a big name for himself in the business of home improvement. from 1999 to present. 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. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. In 2016, he received $11.5 million. as well as other partner offers and accept our, A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge, Before that, he worked at Montgomery Ward and. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . 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. Author: Lois Furry. 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. 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? They have also lived in Monrovia, CA and Kingston, TN. 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? All Rights Reserved. Join the Brooksy Society by subscribing to our Monthly Newsletter! His first post-grad job was at Montgomery Ward, a department store chain. To a Spreadsheet or Other File Type. Home Depot feels its downstream network consists of four relatively unconnected and independent components, which are store-based delivery, online delivery from direct fulfillment centers (DFC) and vendors, appliance delivery, and Interline brands delivery, explains Forbes. Home Depot CEO Craig, age 63, was born in Flint, Michigan in around 1958. Since then, he has become a regular donor to his alma mater throughout the years. [8], Menear is a donor to his alma mater, Michigan State University. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. He has been ranked 29th in the top 1000 CEOs of private and public companies. If somebody had said, Okay, Frank, here blank sheet of paper. You can help Wikipedia by expanding it. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles, said Blake. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. Quickly connect with Craig before . Digital sales rose 80% year over year, furthermore, customers picked up about 60% of those orders at a physical store. 5. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Got a confidential news tip? He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. The Home Depot has become a household name in house renovations, all under the leadership of Craig. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. Through his knowledge of restructuring the company for ultimate profitability, the company has exceeded many expectations, and should continue to do so throughout the coming years as well. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. Under his leadership, the company continues to . Speaking to Atlanta Business Article, Craig mentioned that he met his wife in Michigan, his home state. Data is a real-time snapshot *Data is delayed at least 15 minutes. "Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles," said Blake. In fiscal 2013, the company reached sales of $78.8 billion and earnings of $5.4 billion. He will be replacing Craig Menear, who has been . Mr . Craig Menear, chairman, president, and CEO of The Home Depot and alumnus of the Broad College of Business, was the commencement speaker at the spring undergr. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. 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. Together, they worked on several home improvement projects. At least 25 individuals have made substantial donations in support of Trump. With the $11 billion investment, we told our investors well actually produce an ROIC north of 40.. 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. 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. The Home Depot announced late last week that it had appointed Ted Decker as its new chief executive officer. 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. Aug. 17, 2021. 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. 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. 24/7 coverage of breaking news and live events. The American businessman has kept much of his personal life out of the spotlight. He serves as the chairman and is the former chief executive officer of The Home Depot. Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. 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. Teddy W Solomon says: April 4, 2021 at 5:19 pm. event : evt, 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 Democratic candidates, according to the Center for Open Politics. But is Home Depot really a conservative company? Craig Menear has served as CEO and President of The Home Depot since November 2014 and Chairman since February 2015. Get this delivered to your inbox, and more info about our products and services. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. Frank Blake has been Home Depot's chairman and CEO . The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. 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. [1] He became executive vice president of merchandising in 2007. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. "You need to have public health professionals, you need somebody who represents the grocery workers, somebody who represents hospitality workers, and so on.". Craig Menear Chairman and Chief Executive Officer. Menear, 57, has been president of the company's U.S. retail operations since February . Here's a look into Menear's life and career: Source: San Diego Tribune, USA Today, Forbes, Source: Federal Election Committee, CNBC, The Center for Responsive Politics. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Ethics experts say it is certainly not the first time political donors have netted advisory posts. 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. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. "President Trump, who has already brought together the private sector and federal government for unprecedented collaboration during the COVID-19 pandemic, is beginning a dialogue with prominent and successful individuals across multiple industries with different backgrounds and skillsets for the monumental task of re-opening the American economy," Deere wrote. } 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 over 10 years experience he's covered businesses, CEOs, and investments. . Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Tune into ABC at 1 p.m. 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. He became president and COO in October 2020. 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. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. Thats right. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. For some retailers, fewer in-person . 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. Even as the pandemic took hold shortly thereafter, demand for construction-type products actually soared due to homeowners being quarantined inside all day long with not much to do but pursue do-it-yourself projects around their household. 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.. As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. 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. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. Craig Menear is the Chairman of the Board. Philanthropist Chief Executive Officer of Las Vegas Sands Sheldon Adelson listens to President Donald Trump address to the Israeli American Council National Summit 2019 at the Diplomat Beach Resort in Hollywood, Fla., Dec. 7, 2019. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. They outrank your supervisor. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Sites and apps where to download Afrikaans movies, Top facts: The biggest dams in South Africa, Video of Zamani Mbatha apologising to Snikiwe Mhlongo after cheating scandal goes viral on social media, Who is Kim Fields's dad Erv Hurd? A Home Depot store is seen in Washington, DC, on August 18, 2020. 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. 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. Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. Craig Menear (born c. 1958) is an American business executive. From 2015 to 2019, CVS Health gave over $31 million to political non-profits, Intel gave $18 million, Anthem Blue Cross Blue Shield health insurance $16 million, Dow $16 million, AT&T $9 million, and Microsoft $6 million. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. Work Biography for Craig Menear. What are the admission requirements to study medicine at UCT 2022? Menear has donated to the Home Depot Political Action Committee over the years. Home Depot is the largest home improvement retailer in the United States. 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. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. Like other CEOs, Craig has been vocal about his political stand in the US elections. JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. By DEE-ANN DURBIN January 27, 2022. Craig Menear in Washington | Photos | Reviews | 18 building permits.
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