Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. One of the biggest challenges looking ahead manifested in the form of consumer habits shifting, as online sales grew to 4% with no signs of slowing, leadership needed to ponder how best to sell items from barbecue grills and patio sets to actual bricks and mortar over the Internet. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. The company's statement didn't give a reason for Menear's retirement. 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). Menear has donated to the Home Depot Political Action Committee over the years. In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. Together, they worked on several home improvement projects. Craig Menear. 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. 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. 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. Craig Menear Political Contributions in 2020. A Division of NBCUniversal. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. He serves as the chairman and is the former chief executive officer of The Home Depot. 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. 2023 CNBC LLC. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. Author: Lois Furry. 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. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. Enjoy our content? Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. 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. 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 . Age : 63. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. Retail, among the industries hit hardest by the pandemic, received significant representation. Text. Home Depot's Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. Both have vocalized consistent support for US President Donald Trump. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. 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. Brian is currently a news anchor of The 11th Hour with Brian Williams. Data is a real-time snapshot *Data is delayed at least 15 minutes. Retail PACs have given a total amount of $5,169,932 to candidates so far this year, with 43% of that money going to Democratic candidates, and 57% going to Republican contenders. Decker took over as CEO in March, when Menear stepped down from that role. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: Contribution Totals. Craig Menear; Director ejecutivo de The Home Depot Actualmente en el cargo; Desde el 01 de noviembre de 2014: Informacin personal; Nacimiento? As the Democratic-leaning holdout of Home Depot's group of founders, Blank has given hundreds of thousands of dollars to Democrats like Hillary Clinton, Chuck Schumer, and Sam Nunn. Details of his birthday and month are yet to be revealed. 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. Craig Menear Chairman & Chief Executive Officer. In this article, we are going to reveal to you ten things that you may not have known about Menear, and his time on top in The Home Depot company. forms: { In 2016, he received $11.5 million. Marcus and Langone have spent millions supporting Republican and conservative causes over the years. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . Mr . Menear, 57, has been president of the company's U.S. retail operations since February . [3], Menear was educated at the Flint Central High School, graduating in 1975. 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. Larry Page: net worth, age, children, wife, house, education, salary, profiles. For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. 24/7 coverage of breaking news and live events. CEO Craig Menear is also a major Republican donor. The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. To a Spreadsheet or Other File Type. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. A Division of NBCUniversal. He is replaced by former executive vice president Ted Decker. 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. He previously served as chief merchant and executive vice president of merchandising. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. 2. In their personal contributions, Home Depot executives have favored many of the same conservative politicians as Menear, although a number of figures from the company's leadership team have supported liberal politicians like Hillary Clinton. 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. Top editors give you the stories you want delivered right to your inbox each weekday. All Rights Reserved. Select this result to view Craig Albert Menear's phone number, address, and more. Reply. Earlier this month, a memo from the office of Florida Gov. According to Bizjournals, he made a total of $10,889,833 in 2019 and $13,995,092 from the year after. 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Atlanta-based Home Depot is a major political player in Georgia. We want to hear from you. There's a video about it on MyApron and probably on loop in your break room too. For more information on making a gift to the Broad College of Business, contact Senior Director of Development Vivian Leung at leungv@msu.edu or call (517) 355-8504. 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? Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. 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 . The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. 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. 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 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. } 6. But scattered among them are several of Trumps friends, supporters, and political donors. 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. Download all contribution records for this person. With the exception of Ellison, the top brass at both home improvement giants largely favor donating to their employer's designated PAC, as well as the occasional specific politician or campaign. The idea is to further unlock the interconnected retail vision the company began building many years ago. { Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. } At least 25 individuals have made substantial donations in support of Trump. . Find contact details for 700 million professionals. You are already subscribed to our newsletter! In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. POLITICAL ACTION COMMITTEE: Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Since public colleges are supported by the taxes of the people who live in the local regions, the tuition for public colleges, Read More Will Record Tuition Deductions Help Private Colleges?Continue, Joe Bob Perkins is the CEO of Targa Resources. 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. 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%. 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. In 2007, he was appointed executive vice president of merchandising. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. Menear has donated to the Home Depot Political Action Committee over the years. But a modicum of political change may be at hand for both retailers in the coming election cycle. He has had the role of Chief Executive Officer since 2014. While glancing at his 13 years company's stock transaction . Home Depot CEO Craig, age 63, was born in Flint, Michigan in around 1958. Political Action Committee, the . On Sundays, the Fortune 500 corporations new chief executive hand-wrote thank-you cards to employees, a meaningful gesture he learned from President George H. W. Bush while serving as deputy general counsel from 1981-1983, during his vice presidency years. His father worked as a tool and die maker at General Motors. Like other CEOs, Craig has been vocal about his political stand in the US elections. Work Biography for Craig Menear. Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . You have to stay focused on the customers needs and when you lose that focus, bad things happen. "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 is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. He has been ranked 29th in the top 1000 CEOs of private and public companies. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . 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. The show airs every weeknight at 11 pm Eastern Time on MSNBC. After completing his university studies, the American businessman got into work at several retailers. Craig Menear (born c. 1958) is an American business executive. How it started and how to protect yourself: Tracking the spread in the US and Worldwide. 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. Craig Menear. That relentless work ethic the future executive displayed must have had something to do with the rugged midwestern upbringing he experienced, after all, his father frequently battered him with the mantra, if youre going to do something, do it 110%, or dont do it at all.. Craig Menear is chairman, CEO and president of The Home Depot. 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. . The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. By clicking Sign up, you agree to receive marketing emails from Insider Corporations have also been active political spenders at the state level. In 2020, the breakdown for Lowe's' PAC's $602,000 was 25% to Democrats and 75% to Republicans. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. "President Trumps policies built a booming economy and they will do so again.". Mr. Menear owns over 68,468 units of Home Depot stock worth over $75,521,444 and over the last 16 years he sold HD stock worth over $14,995,979. However, as of 2021, he is 63 years old. Not long after the board appointed Menear, the former moved on and accepted an opportunity to become CEO of J.C. Penny. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. 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. While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. 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. Alma Mater. 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. 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. He is on the Board of Directors at Retail Industry Leaders . Clearly, he knows his way around technical issues with computers, but there has to be more to, Read More 10 Things You Didnt Know about Leif K-BrooksContinue. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. But is Home Depot really a conservative company? They invested about $11 billion in the improvement of . Learn how your comment data is processed. })(); 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. Biography of Craig Menear. All Rights Reserved. The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. Want to connect with other businesses in the Latino community? "Our founders have not been with The Home Depot for nearly 20 years and they don't speak on behalf of the company," a Home Depot spokesperson told Business Insider. Craig Menear has created a big name for himself in the business of home improvement. de 1958 Flint, Mchigan, Estados Unidos: Nacionalidad: Estadounidense: The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. Others Named Craig Menear. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. "It's not entirely clear what the parameters were for deciding who is included or not included, but there do seem to be a significant number of Trump donors on this list," Brendan Fischer, a federal reforms director at watchdog group Campaign Legal Center, told ABC News. As a staff member, I remember the feeling of getting a note from the vice president of the United States saying nice job on something. 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! [1][2], Menear began his career at several retailers. A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". Through his able leadership, the company has grown significantly. Richard Mcvey: age, children, first wife, height, career, profile, worth. 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. References This . 5. Hell do an outstanding job leading our company in the years ahead.. With over 10 years experience he's covered businesses, CEOs, and investments. ATLANTA, Jan. 27, 2022 - The Home Depot , the world's largest home improvement retailer, today announced that Edward "Ted" Decker has been named CEO and president, and has been elected to the company's board of directors, all effective March 1, 2022.Craig Menear, currently chairman and CEO, will continue to serve as Chair of the Board. We will stand up and speak up, hitting Home . He then worked at Builders Emporium and was also a distribution manager at IKEA. 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. Learn More about Craig A. Menear's net worth. 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. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Public asset : 66,160,504 USD. Ethics experts say it is certainly not the first time political donors have netted advisory posts. 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. Garrett by trade is a personal finance freelance writer and journalist. 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. Around ten years old, Craig remembers noticing a girl about the same age living just five houses down from him, her name was Dawn. What are the admission requirements to study medicine at UCT 2022? 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. Monday, January 31, 2022 6:11 AM UTC. 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. Photo by Patrick James Miller for Fortune The breach was, unquestionably . Recent work: Johnson/brooks single family residence - window rpl rmv/rpl 3 windows; no structural changes. 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. Menear was born and raised in Flint, Michigan to his family back in 1958. 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. Turn on desktop notifications for breaking stories about interest? Menear has been at the retailer for more than 20 years and began as CEO in November 2014.