They invested about $11 billion in the improvement of . Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. About the time off coming up : r/HomeDepot President Trump's 'opening the country' council features several political donors and supporters . [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. One factor behind the lower rate of political contribution may simply be the newness of the North Carolina-based company's leadership. 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. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. 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. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. 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. 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. We want to hear from you. 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. His first job was at Montgomery Ward, a department store chain. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. . You can find out more information about Menear and the work he has put into The Home Depot online. 2. "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. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Michigan State was a great economic opportunity to be able to get a great education and a great life, and I am very happy to be able to give back some of what was given to me, he divulges to the schools newspaper, having earned his bachelors degree in a fairly swift four years, with the class of 79. "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. Home Depot CEO Craig Menear leaves his post | exechange Of the two, Menear is clearly the more frequent contributor to political campaigns, politicians, and his current company's PAC. As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. Home Depot on Thursday also announced a new $15 billion share-buyback program. With over 10 years experience he's covered businesses, CEOs, and investments. In 2020, the breakdown for Lowe's' PAC's $602,000 was 25% to Democrats and 75% to Republicans. Craig Menear has created a big name for himself in the business of home improvement. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). 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. This site uses Akismet to reduce spam. 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. By DEE-ANN DURBIN January 27, 2022. 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. The founding team at Home Depot longtime home improvement executives Bernie Marcus and Arthur Blank, investor Ken Langone, and merchandising expert Pat Farrah. Have you ever looked at a company or brand and wondered who runs the show? This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. It became apparent this rebuild was reaching for the long-term as the great recession took hold, plunging the companys net income to $756 million in the three months ended Nov. 2, 2008, down 30.7% from $1.1 billion in the same period a year before. He became president and COO in October 2020. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . ); 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. Photo by Patrick James Miller for Fortune The breach was, unquestionably . Craig Menear Wikipedia Republished // WIKI 2 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. Craig Menear is chairman, CEO and president of The Home Depot. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. Top editors give you the stories you want delivered right to your inbox each weekday. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. Outgoing CEO Craig Menear will continue to serve as chair of the board. CEO Craig Menear is also a major Republican donor. 2020 Transaction Count/Amount. window.mc4wp = window.mc4wp || { 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. 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. } Many people are familiar with him because of his decade-long stint in the media industry. Menear has been the company's chief executive officer and chairman since November 2014, succeeding Frank Blake in these positions. Tell Wealthy Corporations to Stop Bankrolling the Republicans [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. In 2006, Home Depot brought on Office Depot logistics veteran Mark Holifield as senior vice president of Supply Chain. He has made the occasional one-off donation to other, largely Republican, candidates and campaigns, including now-Sen. Mitt Romney's presidential run, Jeb Bush, and David Perdue. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. "You need to have public health professionals, you need somebody who represents the grocery workers, somebody who represents hospitality workers, and so on.". [2][4][5], Menear joined Home Depot in 1997. Craig Menear: age, family, salary, home depot, house - Briefly 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. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. Home Depot picks veteran Ted Decker as new CEO | CNN Business Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. He attended Flint Central High School. 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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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. [1] He became executive vice president of merchandising in 2007. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Menear has donated to the Home Depot Political Action Committee over the years. Home Depot names Craig Menear new CEO starting Nov. 1 2. Inside the career of Home Depot CEO Craig Menear, who has worked at the The foundation has nearly doubled its political giving since 2018. from 1999 to present. Craig Menear replacing Frank Blake as Home Depot CEO - ajc In January 2022, The Home Depot announced that he would step . He previously served as chief merchant and executive vice president of merchandising. Sign up for notifications from Insider! Through his able leadership, the company has grown significantly. Atlanta-based Home Depot is a major political player in Georgia. Connie Snyder: What do you know about Steve Ballmer wife? Home Depot's Craig Menear upbeat about company's future Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. de 1958 Flint, Mchigan, Estados Unidos: Nacionalidad: Estadounidense: 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. 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. ADVERTISEMENT. 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. 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.. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. Menear has been into entrepreneurship from an early age. [1][2] His father worked as a tool and die maker for General Motors. Aug. 17, 2021. Craig Menear is the Chairman of the Board. Over the course of five years, the internal funding should spur innovations in everything from store enhancements and new e-commerce solutions to industry-leading delivery options, and a comprehensive ecosystem conducive to professional contractors (Pro). Home 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%. Age : 63. Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. 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. Craig Menear - Biography - MarketScreener.com 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. 2. 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 . Dealing a further blow to internal morale, he also increased the number of less knowledgeable part-time workers at Home Depots stores, which left full-time employees fuming and led to a diminishment of customer service, one of the companys strengths, recounted Barry Henderson, an equities expert at T. Rowe Price. Sign up for free newsletters and get more CNBC delivered to your inbox. He lives with his wife, and the couple also has two daughters. Craig Menear Net Worth, Biography, and Insider Trading Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. 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. Craig Menear Chairman and Chief Executive Officer. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. We want to hear from you. Weve done a number of things throughout our facilities to be able to be more flexible, were working on expanding childcare services, and weve changed the configuration of our buildings in order to facilitate more team integration, Menear explains. Since then, he has become a regular donor to his alma mater throughout the years. In 2019, Marcus said he would donate a portion of his billions to the president's re-election campaign. 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. He is on the Board of Directors at Retail Industry Leaders . Craig Menear Net Worth (2023) | wallmine 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. 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. 2023 CNBC LLC. Author: Lois Furry. Dean's CEO Speaker Series: Craig Menear, Chairman and CEO, The Home Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". In 2021, the company had 490,600 employees and more than $151 billion in revenue. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. "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. He will be replacing Craig Menear, who has been . That makes a difference, believes Frank Blake. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: MENEAR, CRAIG MARIETTA, GA 30068: Home Depot Product Authority,/Home Depot Product Authority,/Chairman Ceo And President: $192: 12/20/2019: P: THE HOME DEPOT INC. So far in 2020, Lowe's' PAC has given a total of $540,500 to politicians, with a breakdown of 30% in contributions to Democratic candidates and 70% in giving to Republican contenders. The new CEO will be Craig Menear, Atlanta-based Home Depot announced Thursday after the stock market closed. 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. Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. (function() { Briefly.co.za recently published an article about Brian Williams' biography. Inside the career of Home Depot CEO Craig Menear, who has worked at the Marcus in particular has once again made headlines by vowing to support. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. But, what does the CEO of home depot make? And is Lowe's its liberal counterpart? The Home Depot announced late last week that it had appointed Ted Decker as its new chief executive officer. He's spent the vast majority of his career dealing with complex logistics, the expectations of builders and home . READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Craig Menear. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. Craig Menear has been climbing the ladder at Home Depot for years and not one of the orange metal ones that employees use to grab products off high shelves. Home Depot is the largest home improvement retailer in the United States. 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. His father worked as a tool and die maker at General Motors.
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