Sign up for free newsletters and get more CNBC delivered to your inbox. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. 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 . Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Prior to that, Menear had been the company's chief executive since 2014. Menear began working at Home Depot in 1997. Menear was named to Trump's Great American Economic Revival advisory group for retail earlier this year Fifty-one percent of Trump's billionaire donors did not give to the president's 2016 campaign. Home Depot CEO Ted Decker to replace retiring Craig Menear as chair - CNBC Tune into ABC at 1 p.m. You are already subscribed to our newsletter! "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. Menear has been into entrepreneurship from an early age. 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. Menear has donated to the Home Depot Political Action Committee over the years. 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. 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. event : evt, Craig Menear - Forbes The pair has given $470,300 this year, with 99% of that money going to Republican candidates. 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. Craig Menear (born c.1958) is an American business executive. The American businessman has kept much of his personal life out of the spotlight. Mr . Inside the career of Home Depot CEO Craig Menear, who has worked at the callback: cb 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. The Home Depot - Wikipedia Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. 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.. 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. 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. He lives with his wife, and the couple also has two daughters. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Mr Menear, getting involved in political statements. Everything to know about him, De Lille reveals ANC ministers and deputies live in lavish Pretoria and Cape Town houses worth R1bn, SA awed, Mpho Wabadimo and Thema Broly allegedly split after 'BBMzansi' winner posts cryptic pictures on Instagram, Twitter men defend Zamani Mbatha amid cheating scandal after girlfriend Snikiwe Mhlongo exposed him: "Protect Zamani", Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Home Depot, Lowe's' Politics Don't Diverge As Much As You Might Think To a Spreadsheet or Other File Type. Craig Menear Chairman and Chief Executive Officer. Don't Compete with Inevitable Craig Menear, CEO Home Depot 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. 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. 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. 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. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. Craig Menear - Wikiwand Both have vocalized consistent support for US President Donald Trump. We just went back to some foundational statements from [founders] Bernie Marcus and Arthur Blank in terms of our company values and what we stand for. His films have been among the biggest box office hits of all time. forms: { Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. The American entrepreneur cannot be contacted directly via his personal details. Check your inbox to be the first to know the hottest news. 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). Menear has been the company's chief executive officer and chairman since November 2014, succeeding Frank Blake in these positions. [1] He became executive vice president of merchandising in 2007. Following publication of this report, White House deputy press secretary Judd Deere issued a brief statement to ABC News. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. Since then, he has become a regular donor to his alma mater throughout the years. Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles, said Blake. Not the Craig Menear you were looking for? In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. 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. But is Home Depot really a conservative company? [3], Menear was educated at the Flint Central High School, graduating in 1975. 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. What are the admission requirements to study medicine at UCT 2022? "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. Retailers Predict Post-Pandemic Shopping Trends in Q1 Earnings Calls Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. Home Depots same-store sales in the U.S., which includes sales online and at stores open for at least 12 months, grew 24.6% in the pandemics first quarter. Dean's CEO Speaker Series: Craig Menear, Chairman and CEO, The Home Connie Snyder: What do you know about Steve Ballmer wife? Craig Menear. Others in the loop would argue the contrary, that executives werent informed enough on the competition, given Lowes stellar rise; the one thing folks seem to universally agree about regarding this period in Home Depots history is its disheartening impact on all involved parties. 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. . 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. By clicking Sign up, you agree to receive marketing emails from Insider What do you think about the CEO of Home Depot donating all his - Quora But Id say, the most important thing, that weve found spans across generations, is: people want to understand the strategy of your company, they want to understand how they fit in that, and how they contribute to that.. 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. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. A Division of NBCUniversal. HOME DEPOT INC Executive Salaries & Other Compensation - Salary.com Since Targa Resources is a member of the Fortune 500 list, this means that Perkins possesses considerable influence when it comes to the companys specialties, which, Read More 10 Things You Didnt Know about Targa Resources CEO Joe Bob PerkinsContinue, Are you looking to start a fast food restaurant franchise? 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. For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. About the time off coming up : r/HomeDepot Craig Menear - Address & Phone Number | Whitepages 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. Sign up for notifications from Insider! 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. He has been ranked 29th in the top 1000 CEOs of private and public companies. By DEE-ANN DURBIN January 27, 2022. Here Are The Billionaires Backing Donald Trump's Campaign, As Of "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. The Home Depot announced late last week that it had appointed Ted Decker as its new chief executive officer. 2016 Election Cycle. The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. He serves as the chairman and is the former chief executive officer of The Home Depot. Tell Wealthy Corporations to Stop Bankrolling the Republicans Craig Menear Political Contributions in 2020. 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. Brian is currently a news anchor of The 11th Hour with Brian Williams. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. The Home Depot, Inc. (NYSE:NYSE:HD) Alliance Bernstein 37th Annual Strategic Decisions Conference June 3, 2021 1:30 PM ETCompany ParticipantsCraig Menear - Chairman and Chief Executive. Has Been Known As The Darling Of Wall Street, 7. But scattered among them are several of Trumps friends, supporters, and political donors. 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. Alma Mater. A persistent Spartan, hed drive the aging aforementioned vehicle to and fro the college campus where he slogged his way through two years of math and statistics that didnt come easy. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. His first job was at Montgomery Ward, a department store chain. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. Craig was named CEO and president in November 2014 and chairman in February 2015. Briefly.co.za recently published an article about Brian Williams' biography. Steve Ballmer: age, children, wife, house, yacht, profiles, net worth in billions, Get the news that matters from one of the leading news sites in South Africa, Mlungu woman nails pantsula dance moves with Converse All Stars in the township, Creative lady transforms shack into beautiful home, shows off incredible style, 6-year-old girl fighting for her life following pit bull attack, doctors say she got 1000 stitches, SA woman with "shwapa" performs Bhebha dance challenge, people praise confident woman in TikTok video, Details into the life of Samantha Speno, Randy Orton's ex-wife. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. Menear said 98 words. The company currently has around 2200 stores and 400,000 associates. Home Depot is the largest home improvement retailer in the United States. Search. But, what does the CEO of home depot make? "And you do have to question whether some of these people would have been included if they weren't major financial supporters of the president and his party.". Inside the career of Home Depot CEO Craig Menear - Business Insider Both public and private colleges are competing for a limited number of students. 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. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. In January 2022, The Home Depot announced that he would step . Speaking to Atlanta Business Article, Craig mentioned that he met his wife in Michigan, his home state. Menear, 57, has been president of the company's U.S. retail operations since February . [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. Home Depot names longtime executive as new CEO | AP News Not long after the board appointed Menear, the former moved on and accepted an opportunity to become CEO of J.C. Penny. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. 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. 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. Thats right. Home Depot names Craig Menear new CEO starting Nov. 1 That makes up around 9% of the PAC's current cycle to-date disbursements. 2023 CNBC LLC. 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. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. In November 2014, he became the SEO of the company and has served as its chairman since February 2015. Menear has donated to the Home Depot Political Action Committee over the years. He is one of the legendary news anchors in America today. ); 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. 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 culture was always here, he retrospectively told Institutional Investor in a 2011 interview. 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. Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. This article about an American businessperson born in the 1950s is a stub. Craig Menear Net Worth, Biography, and Insider Trading Lets get started. Dating back to January 21, 2005, Menear has donated $97,921.16 to the Home Depot Inc., Political Action Committee. Craig Menear Wiki - Age, Wife, Family, & More. 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 . Craig Menear replacing Frank Blake as Home Depot CEO - ajc I remember that. Home Depot's Craig Menear upbeat about company's future Get this delivered to your inbox, and more info about our products and services. Marcus in particular has once again made headlines by vowing to support. Craig Menear is an inspiration to all the upcoming businesspersons. They have also lived in Monrovia, CA and Kingston, TN. Will Record Tuition Deductions Help Private Colleges? Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. 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. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats.