Photo by Patrick James Miller for Fortune The breach was, unquestionably . As a long-time Home Depot veteran, Craig lives our values and embodies our culture. Brian is currently a news anchor of The 11th Hour with Brian Williams. He then worked at Builders Emporium and was also a distribution manager at IKEA. Menear has donated to the Home Depot Political Action Committee over the years. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . After graduating from MSU, Menear began his career at the modest, now-defunct retailer, Montgomery Ward; which was a pioneering mail order and department store retailer that operated between 1872 and 2001. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. He attended the local high school in his area before expanding his horizons after college, and learning the ropes of his now popular industry. 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"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. The idea is to further unlock the interconnected retail vision the company began building many years ago. Stephen Schwarzman, CEO of the asset management group Blackstone, will join the council's financial services and real estate groups. 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. Read more about the author Craig Menear at L'ATTITUDE. JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. However, these actions were met with backlash from the public. 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.. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. 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. 2. Aug. 17, 2021. All Rights Reserved. Earlier this month, a memo from the office of Florida Gov. 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. 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. Since then, he has become a regular donor to his alma mater throughout the years. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. They have also lived in Monrovia, CA and Kingston, TN. Prior to that, Menear had been the company's chief executive since 2014. Has Worked For More Than Just The Home Depot. In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. 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. According to the Center for Responsive Politics, the Arthur M. Blank Foundation has only given $283 to Democratic candidates in 2020 so far, and zero dollars to Republicans. The second best result is Craig Allen Menear age 40s in Valparaiso, IN. Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. [8], Menear is a donor to his alma mater, Michigan State University. Of the two, Menear is clearly the more frequent contributor to political campaigns, politicians, and his current company's PAC. How it started and how to protect yourself: Tracking the spread in the US and Worldwide. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. Learn more about the background of Craig Menear, the highly respected CEO of The Home Depot and his perspective on leadership and the future of business in a. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. Still, amidst troubled financial waters, Blake chose to make investments in his operations by continuing to modernize their supply chain, rethinking the role technology could play in their retail strategy, and most importantly, emphasizing the tremendous impact that each hired hand in each store has on Home Depots success. But, what does the CEO of home depot make? (function() { Frank Blake has been Home Depot's chairman and CEO . Decker took over as CEO in March, when Menear stepped down from that role. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. You have to stay focused on the customers needs and when you lose that focus, bad things happen. 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. Bernie Marcus attends Lord & Taylor toasts Georgia Aquarium founder Bernie Marcus at Del Posto, April 18, 2007, in New York City. 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. 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. And is Lowe's its liberal counterpart? Public asset : 66,160,504 USD. { 2. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. Menear has donated to the Home Depot Political Action Committee over the years. 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. What are the admission requirements to study medicine at UCT 2022? The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. 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. Home Depot Inc. Craig was named CEO and president in November 2014 and chairman in February 2015. He is replaced by former executive vice president Ted Decker. He is on the Board of Directors at Retail Industry Leaders . Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. 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.. It seems that there really is no stopping Craig Menear, and his attempts to make the company all about the customer. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. Decker, who has . 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. "As a long-time Home Depot veteran, Craig lives our . 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. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. Family Life. 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. 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. 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. Get this delivered to your inbox, and more info about our products and services. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. Larry Page: net worth, age, children, wife, house, education, salary, profiles. forms: { The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Langone, however, walked back his support of the president and denounced Trump after a mobattackedthe Capitol. However, as of 2021, he is 63 years old. For Menear, one of his most important tasks when taking over as CEO was keeping the company customer centered while also keeping up with the advancing technology that has taken over our society. Follow Craig Menear on LinkedIn to get to know them better. 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. 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. Reply. [1] He became executive vice president of merchandising in 2007. "President Trumps policies built a booming economy and they will do so again.". The company is involved in renovating or making additions to houses. Executing a move that initially left some scratching their heads, the board appointed Frank Blake CEO after Nardellis departure, he had come from GE as well, and many feared a catastrophic repeat of the past seven years. Marcus and Langone have spent millions supporting Republican and conservative causes over the years. Monday, January 31, 2022 6:11 AM UTC. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. 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. But a modicum of political change may be at hand for both retailers in the coming election cycle. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. For some retailers, fewer in-person . Under his leadership, the company continues to . He donated nothing to Democratic or liberal figures, according to the Center for Responsive Politics. 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. 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? . Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. Outgoing CEO Craig Menear will continue to serve as chair of the board. With over 10 years experience he's covered businesses, CEOs, and investments. 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. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. As of 14 November 2018, the estimated net worth of Craig Menear was more than $85.1 Million. Menear, 57, has been president of the company's U.S. retail operations since February . If somebody had said, Okay, Frank, here blank sheet of paper. Text. Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. Like other CEOs, Craig has been vocal about his political stand in the US elections. Menear was born in Flint, Michigan, USA, in the year 1958. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. Data is a real-time snapshot *Data is delayed at least 15 minutes. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Craig Menear (born c. 1958) is an American business executive. In November 2014, he became the SEO of the company and has served as its chairman since February 2015. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. He lives with his wife, and the couple also has two daughters. A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". Has Been Known As The Darling Of Wall Street, 7. But how did he come to run the company in the first place? Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. 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. The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table. So, while the home improvement giants and the more high-profile founders in the industry may favor Republican candidates at the moment, the partisan donation gap may be starting to balance out. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The new CEO will be Craig Menear, Atlanta-based Home Depot announced Thursday after the stock market closed. Decker took over as CEO in March, when Menear stepped down from that role. 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. 24/7 coverage of breaking news and live events. . 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. In 2019, Marcus said he would donate a portion of his billions to the president's re-election campaign. } The foundation has nearly doubled its political giving since 2018. Learn how your comment data is processed. Other prominent Trump donors on the council include Harold Hamm of Continental Resources, Paul Singer of Elliot Management, New England Patriots owner Bob Kraft, and M Crowd Restaurant owner Ray Washburne. 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). 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. } Not long after the board appointed Menear, the former moved on and accepted an opportunity to become CEO of J.C. Penny. He worked his way through, and in 2007 he was named the Vice President of Merchandising. 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? [1][2] His father worked as a tool and die maker for General Motors. 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. Home Depot on Thursday also announced a new $15 billion share-buyback program. Craig Menear has served as CEO and President of The Home Depot since November 2014 and Chairman since February 2015. 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. U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . 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. Turn on desktop notifications for breaking stories about interest? 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. 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 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. [2][4][5], Menear joined Home Depot in 1997. We lost that focus in the mid-2000s and candidly, we blew one of the biggest housing booms this country has ever seen in the 2004, 2005, 2006 era.. POLITICAL ACTION COMMITTEE: After completing his university studies, the American businessman got into work at several retailers. 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. As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. on: function(evt, cb) { In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. 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. References This . Craig Menear Political Contributions in 2020. Read more here! In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. Menear said 98 words. 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 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 . Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. But scattered among them are several of Trumps friends, supporters, and political donors. Prior to joining The Home Depot, he worked in a variety of roles in mass, home center and specialty retailing. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. You can find out more information about Menear and the work he has put into The Home Depot online. You are already subscribed to our newsletter! Craig Menear has created a big name for himself in the business of home improvement. He serves as the chairman and is the former chief executive officer of The Home Depot. The Home Depot, Inc., often simply referred to as Home Depot, is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. 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. Download all contribution records for this person. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. 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. 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. 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! That makes up around 9% of the PAC's current cycle to-date disbursements. 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. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. There's a video about it on MyApron and probably on loop in your break room too. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. 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. Menear was born c.1958 in Flint, Michigan. According to Bizjournals, he made a total of $10,889,833 in 2019 and $13,995,092 from the year after. I remember that. In fiscal 2013, the company reached sales of $78.8 billion and earnings of $5.4 billion. Political Action Committee, the . Quickly connect with Craig before . Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. Palmer has also been one of Trumps most generous political donors, hosting multiple Trump fundraisers at his luxurious Los Angeles home and giving more than $10 million to the president's various fundraising vehicles, including Trumps presidential campaign, multiple Trump-aligned super PACs, and a legal defense fund set up to help pay legal bills for Trump allies caught up in Special Counsel Robert Mueller's investigation of Russian interference in the 2016 election. We want to hear from you. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. 2. After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. Got a confidential news tip? 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. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. He serves as the chairman and is the former chief executive officer of The Home Depot. Author: Lois Furry. Menear was born and raised in Flint, Michigan to his family back in 1958. Craig Menear (born c.1958) is an American business executive. 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. callback: cb [2] Succeeding Frank Blake in these roles, Menear has served as its chief executive officer since November 2014,[2] and as its chairman since February 2015. . ); 6. "You need to have public health professionals, you need somebody who represents the grocery workers, somebody who represents hospitality workers, and so on.". 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 . Craig Menear is chairman, CEO and president of The Home Depot. Not the Craig Menear you were looking for? Others Named Craig Menear. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. 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. He will be replacing Craig Menear, who has been . 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.
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