Home Depot names company veteran Ted Decker as CEO - CNBC 2023 CNBC LLC. 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. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. 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. 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. Craig Menear Chairman and Chief Executive Officer. Menear has donated to the Home Depot Political Action Committee over the years. He isnt necessarily the prototypical hotshot CEO we all imagine in our heads when thinking of somebody who has experienced his degree of success or that wields so much economic power, as a matter of fact, hes humble, soft-spoken, and were you to encounter him on the street, theres probably no way youd know he leads an army of 300,000 ready to help associates spread across the North American continent. 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.. 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. He is replaced by former executive vice president Ted Decker. 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. Political Action Committee, according to FEC data. 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.. Learn how your comment data is processed. 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. 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. Both public and private colleges are competing for a limited number of students. His first post-grad job was at Montgomery Ward, a department store chain. 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. Tune into ABC at 1 p.m. 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. But scattered among them are several of Trumps friends, supporters, and political donors. "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. Coca-Cola C.E.O.: Voting Rights Advocate? - The New York Times Adelson did not respond to a request for comment. How Home Depot CEO Frank Blake kept his legacy from being hacked His triumphs have clearly been shown, as in his three years in the position have led to amazing stock records (as we mentioned before), and the company appears to be doing better than ever while continuing to evolve. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. We want to hear from you. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. 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. Richard Mcvey: age, children, first wife, height, career, profile, worth. Access your favorite topics in a personalized feed while you're on the go. ); Home Depot names longtime executive as new CEO | AP News 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). In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Author: Lois Furry. Follow Craig Menear on LinkedIn to get to know them better. 24/7 coverage of breaking news and live events. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. Craig Menear will become Home Depot CEO - SFGATE 2020 Transaction Count/Amount. [6] He was given $11.5 million in 2016. Craig Menear - Wikipedia JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. 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. Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. Net sales increased 44 percent to $108.5 billion in the first quarter, after already increasing 38 percent to $386.1 billion during the full year of 2020. 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. Craig Menear | WA | Read Reviews + Get a Free Estimate | BuildZoom NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. 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. Craig brings decades of retail experience from mass, home center, specialty and big box retailing to his role during a time when the retail landscape is rapidly changing. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. 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. He's spent the vast majority of his career dealing with complex logistics, the expectations of builders and home . That same day, America First Action announced a $26.6 million investment in broadcast television ad buys set to run in the fall in the battleground states, including $18 million in Florida. 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. 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. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. 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. Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. 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. Age : 63. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. 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. Decker took over as CEO in . The longtime CEO of the company has made a name for himself, and for the company, throughout the years, making it a household name in its industry (no pun intended). [1] He became executive vice president of merchandising in 2007. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. Search. Decker took over as CEO in March, when Menear stepped down from that role. As published in the Atlanta Business Chronicle on June 1, 2018In early 2014, three people were in the running to succeed Frank Blake as CEO of The Home Depot Inc. Craig Menear, who eventually . Menear has been into entrepreneurship from an early age. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. Craig Menear Net Worth (2023) | wallmine President Trump's 'opening the country' council features several political donors and supporters . 5. Home Depot's (HD) CEO Craig Menear Hosts 2018 Annual Shareholder Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. Family Life. This site uses Akismet to reduce spam. 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. 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. Political Campaign Contributions. But the recurring partisan controversy fails to capture the fact that both home improvement companies skew conservative when it comes to political giving a tendency they share with many major retailers. There's a video about it on MyApron and probably on loop in your break room too. 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. For one of the co-founders, Bernie Marcus, to support a xenophobic, misogynistic, racist bigot like Donald Trump and stand by his divisive, hateful rhetoric is beyond acceptable and appalling. 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.
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National Tour Auditions 2021, Articles C