Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. 24/7 coverage of breaking news and live events. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. Enjoy our content? A Division of NBCUniversal. Visit lattitude.net now! "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 . He is on the Board of Directors at Retail Industry Leaders . Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. We want to hear from you. 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. "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. 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. Read more about the author Craig Menear at L'ATTITUDE. 2. Has Been Known As The Darling Of Wall Street, 7. Brian is currently a news anchor of The 11th Hour with Brian Williams. What are the admission requirements to study medicine at UCT 2022? I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. 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.. By DEE-ANN DURBIN January 27, 2022. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. 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. Top editors give you the stories you want delivered right to your inbox each weekday. "It's an example of how writing big checks to the president and a super PAC means that your voice is heard louder than many others, Fischer said. [3], Menear was educated at the Flint Central High School, graduating in 1975. His father was a tool and die maker at Flint General Motors. CEO Craig Menear is also a major Republican donor. Get this delivered to your inbox, and more info about our products and services. U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . 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. He is replaced by former executive vice president Ted Decker. Quickly connect with Craig before . "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. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. 38/$15,620. To find out, Business Insider analyzed Federal Election Commission data for Home Depot and Lowe's executives, as well as data from the Center for Responsive Politics. Both men are company veterans. on: function(evt, cb) { JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. 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. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. He also explained that Dawn had been a great source of support throughout his career. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: But is Home Depot really a conservative company? Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Mr. Menear owns 277,604 shares of Home Depot stock worth more than $88,264,192 as of February 21st. Craig Menear in Washington | Photos | Reviews | 18 building permits. Garrett by trade is a personal finance freelance writer and journalist. The company's statement didn't give a reason for Menear's retirement. . After completing his university studies, the American businessman got into work at several retailers. Mr . Home Depot is the largest home improvement retailer in the United States. As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. 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. Youve always got to be aware of what youre competing against but weve learned this the hard way, laments Menear. Prior to his retirement in November 2011, Mr. Arpey served as Chief Executive Officer of AMR Corporation, a global airline holding company, and its subsidiary American Airlines, from 2003 through November 2011, immediately prior to their voluntary filing for reorganization . Marcus and Langone have spent millions supporting Republican and conservative causes over the years. At least 25 individuals have made substantial donations in support of Trump. Like other CEOs, Craig has been vocal about his political stand in the US elections. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. 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. And some council members such as Amazon CEO Jeff Bezos, Apple CEO Tim Cook, and Facebook CEO Mark Zuckerberg have at times been vocal in their opposition to the president and his agenda. 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. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Atlanta, GA, US View. When introducing her boss at Monday's Rotary Club of Atlanta, the Home Depot's Kelly Barrett admitted that she was a little worried when Craig Menear became CEO following Frank Blake in November . Craig Menear, the company's new CEO, is a veteran merchant who lights up when discussing the capabilities of power tools. Home Depot founders and Republican mega-donors Ken Langone and Bernie Marcus have attracted controversy over their donations to Republican groups and politicians, including US President Donald Trump. 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. The foundation has nearly doubled its political giving since 2018. 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. You can find out more information about Menear and the work he has put into The Home Depot online. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. "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.". 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. Craig Menear tries to be on the store floor of a Home Depot almost every week. Outgoing CEO Craig Menear will continue to serve as chair of the board. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Get this delivered to your inbox, and more info about our products and services. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. Select this result to view Craig Albert Menear's phone number, address, and more. 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. 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. To examine the politics of the home improvement sector beyond the issue of politically-polarized founders, Business Insider combed through the FEC records for each company's current leadership team and examined the Center for Responsive Politics' breakdown of each company's in-house PAC for answers. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. 2. 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. [2][4][5], Menear joined Home Depot in 1997. [7], In January 2022, The Home Depot announced he would be stepping down as the CEO and President effective March 1, 2022 while continuing to serve as the chairman of the board. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Holifields team then proceeded to engineer and execute on the companys supply chain transformation, adding a network of eighteen Rapid Deployment Centers to supply stores with unprecedented efficiency. He attended the local high school in his area before expanding his horizons after college, and learning the ropes of his now popular industry. 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. As Craig Menear put it: that was a significant improvement compared to double-digit declines in previous quarters in 2009. He attributed the improvement to consumers snapping up values in Home Depots appliances, water heaters, and windows categories. 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. Langone, however, walked back his support of the president and denounced Trump after a mobattackedthe Capitol. Menear has donated to the Home Depot Political Action Committee over the years. The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table. "As a long-time Home Depot veteran, Craig lives our . 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. Details of his birthday and month are yet to be revealed. Teddy W Solomon says: April 4, 2021 at 5:19 pm. Sign up for notifications from Insider! You have to stay focused on the customers needs and when you lose that focus, bad things happen. His father worked as a tool and die maker at General Motors. 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. Under his leadership, the company continues to give quality services in supplying tools, construction products. Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. 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? People go: Got it. 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. "His ability to blend the art and science of retail is exactly what is needed in the next phase of growth for The Home Depot," Menear said in a news release. Prior to that, Menear had been the company's chief executive since 2014. President Trump's 'opening the country' council features several political donors and supporters . Menear began working at Home Depot in 1997. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. Contribution Totals. He lives with his wife, and the couple also has two daughters. 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? Menear actually began his career with The Home Depot in 1997, and worked his way from the bottom to the top. Craig A. Menear: CEO Pay $13,059,751: Median Employee Pay $28,697: CEO Pay Ratio 455:1: Board of Directors in HOME DEPOT INC. For its 2021 fiscal year, HOME DEPOT INC, listed the following board members on its annual proxy statement to the SEC. 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 replaces former CEO Craig Menear, who will retire as chair Sept. 30. Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. (function() { Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. 2. For some retailers, fewer in-person . [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. He became president and COO in October 2020. 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. The Home Depot on Thursday named a veteran executive as its new CEO. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. He serves as the chairman and is the former chief executive officer of The Home Depot. Craig Menear. 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. 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. As a result, The Home Depot sought to distance itself from the statement. 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 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. "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. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. window.mc4wp.listeners.push( Like other CEOs, Craig has been vocal about his political stand in the US elections. 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. The second best result is Craig Allen Menear age 40s in Valparaiso, IN. In his role as a news anchor, he has covered more than 300 hours of live, breaking news coverage, including the 2016 presidential campaign and events around the world. He then worked at Builders Emporium and was also a distribution manager at IKEA. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. 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. [6] He was given $11.5 million in 2016. 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. He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. 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. 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. He worked his way through, and in 2007 he was named the 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. Dating back to January 21, 2005, Menear has donated $97,921.16 to the Home Depot Inc., Political Action Committee. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. Now, the company will have to prove it can keep those sales going as Americans face rising prices due to inflation and potentially shift their spending toward services such as dining out and traveling. Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. 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. Menear has donated to the Home Depot Political Action Committee over the years. Corporations have also been active political spenders at the state level. The Home Depot announced late last week that it had appointed Ted Decker as its new chief executive officer. Briefly.co.za recently published an article about Brian Williams' biography. 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. Learn More about Craig A. Menear's net worth. Before joining The Home Depot in 1997, Craig served in various roles with retailers such as IKEA, Builders Emporium, Grace Home. References This . Sign up for free newsletters and get more CNBC delivered to your inbox. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. "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. 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. 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. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . 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. 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. Has Worked For More Than Just The Home Depot. window.mc4wp = window.mc4wp || { . In 2007, he was appointed executive vice president of merchandising. Craig Menear: Home Depot Up until about 2013, Home Depot was an excellent place to drive over and grab what you needed for your special project. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. In 2019, Marcus said he would donate a portion of his billions to the president's re-election campaign. All Rights Reserved. Craig Menear Political Contributions in 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. He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund. Menear was born in Flint, Michigan, USA, in the year 1958. Menear started at Home Depot in 1997, and Decker began his tenure there in 2000.

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