2. { Decker took over as CEO in . 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. "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 . 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. Craig Menear. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Home Depot has seen tremendous growth during the pandemic, as nesting trends and a strong housing market inspired Americans to invest in their homes or move to bigger places. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Not long after the board appointed Menear, the former moved on and accepted an opportunity to become CEO of J.C. Penny. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Youve always got to be aware of what youre competing against but weve learned this the hard way, laments Menear. And when it comes to political contributions, Home Depot and Lowe's both happen to reflect the conservative tendencies of many prominent retailers. event : evt, 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. Menear has donated to the Home Depot Political Action Committee over the years. Will Record Tuition Deductions Help Private Colleges? 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 Chairman & Chief Executive Officer. 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. Under his leadership, the company continues to give quality services in supplying tools, construction products. Get this delivered to your inbox, and more info about our products and services. 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. 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. 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. 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. 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You have to stay focused on the customers needs and when you lose that focus, bad things happen. You could say that Menear has had a love for home improvement instilled in his blood from a young age. Public asset : 66,160,504 USD. Turn on desktop notifications for breaking stories about interest? But scattered among them are several of Trumps friends, supporters, and political donors. . Like other CEOs, Craig has been vocal about his political stand in the US elections. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. He has been ranked 29th in the top 1000 CEOs of private and public companies. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. 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. })(); 15 Technical Indicators That Every Day Trader Should Know, grew 24.6% in the pandemics first quarter, Kraft Heinz CEO: Miguel Patricio Biography, 12 Inspirational Books David Friedberg Recommends, 10 Inspirational Books David Sacks Recommends Reading, 20 Inspirational Books Reid Hoffman Recommends Reading, 5 Inspirational Books Paul Tudor Jones Recommends, 20 Inspirational Books Nassim Taleb Recommends Reading, The 3 Best Day Trading Strategies for Beginners, 5 Chart Patterns Every Beginner Trader Should Know, How Day Trader Ricky Gutierrez Grew His YouTube Channel, How to Buy Your First Stock, with Ricky Gutierrez. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. Hell do an outstanding job leading our company in the years ahead.. 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 more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. 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. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. "President Trumps policies built a booming economy and they will do so again.". Prior to joining The Home Depot, he worked in a variety of roles in mass, home center and specialty retailing. Menear has donated to the Home Depot Political Action Committee over the years. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. 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? Biography of Craig Menear. Quickly connect with Craig before . Together, they worked on several home improvement projects. Join the Brooksy Society by subscribing to our Monthly Newsletter! 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. While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. 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 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. Home Depot is the largest home improvement retailer in the United States. [1][2] His father worked as a tool and die maker for General Motors. He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. 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. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. 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.. 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. He lives with his wife, and the couple also has two daughters. Shares of the company were effectively flat after hours. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: 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. 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. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. 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. 5. Connie Snyder: What do you know about Steve Ballmer wife? Others Named Craig Menear. At least 25 individuals have made substantial donations in support of Trump. 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. 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. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . I am Craig Menear CEO of Home Depot hater of Lowe's Destroyer Of IKEA Harbinger of Toilets Seller of Kitchen Cabinets Master of All PVC Tubes God of Construction Hardware BOW BEFORE ME MORTALS. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Home Depot's Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. Mr . What are the admission requirements to study medicine at UCT 2022? In 2007, he was appointed executive vice president of merchandising. Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. Have you ever looked at a company or brand and wondered who runs the show? In fiscal 2013, the company reached sales of $78.8 billion and earnings of $5.4 billion. 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. 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. On 1 June 2016, Home Depot co-founder Bernie Marcus published an essay on the web site Real Clear Politics in which he announced that he was endorsing GOP candidate Donald Trump for President of . 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. 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. 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. Dating back to January 21, 2005, Menear has donated $97,921.16 to the Home Depot Inc., Political Action Committee. [1][2], Menear began his career at several retailers. All Rights Reserved. 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). 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. With the exception of Ellison, the top brass at both home improvement giants largely favor donating to their employer's designated PAC, as well as the occasional specific politician or campaign. 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. 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. 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 and its PACs are major donors to Republicans, both nationally and in Georgia. 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? 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. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. Age : 63. And is Lowe's its liberal counterpart? [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. He then worked at Builders Emporium and was also a distribution manager at IKEA. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. His films have been among the biggest box office hits of all time. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. However, he could be reached through his work contacts. 2016 Election Cycle. Outgoing CEO Craig Menear will continue to serve as chair of the board. Craig Menear, the company's new CEO, is a veteran merchant who lights up when discussing the capabilities of power tools. "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. 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. He is on the Board of Directors at Retail Industry Leaders . The Home Depot has become one of the more successful home improvement companies that Craig Menear has earned himself the 29th spot on the list of the top 1000 CEOs of private and public companies. As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. Linked companies : No connection available. 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. 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 . Craig Menear's salary of $1.3 million has remained unchanged since his appointment to the position of CEO and President. 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. Atlanta-based Home Depot is a major political player in Georgia. In addition, he makes $10,889,800 as Chairman of the Board a Chief Executive Officer at Home Depot. 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. 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. Craig Menear Political Contributions in 2020. 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 . In 2020, the Center for Responsive Politics listed the investor and his wife Elaine as two of the top hard money individual contributors. Home Depot said Thursday that Craig Menear, the president of its U.S. retail operations, will become president and CEO of the company Nov. 1. Richard Mcvey: age, children, first wife, height, career, profile, worth. You can help Wikipedia by expanding it. He donated nothing to Democratic or liberal figures, according to the Center for Responsive Politics. callback: cb "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. Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. "I have tremendous confidence that he will guide our company to new heights.". Since then, he has become a regular donor to his alma mater throughout the years. window.mc4wp = window.mc4wp || { The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. If somebody had said, Okay, Frank, here blank sheet of paper. 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. By DEE-ANN DURBIN January 27, 2022. He is one of the legendary news anchors in America today. . In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. He attended the local high school in his area before expanding his horizons after college, and learning the ropes of his now popular industry. Home Depot CEO Craig, age 63, was born in Flint, Michigan in around 1958. In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. The company currently has around 2200 stores and 400,000 associates. 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. That makes up around 9% of the PAC's current cycle to-date disbursements. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. 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. Follow Craig Menear on LinkedIn to get to know them better. 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. The founding team at Home Depot longtime home improvement executives Bernie Marcus and Arthur Blank, investor Ken Langone, and merchandising expert Pat Farrah. Got a confidential news tip? 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. To a Spreadsheet or Other File Type. But Home Depot's successunder the helm of president and CEO Craig Menearalso can be attributed to internal restructuring to improve profitability. 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. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. Of course, its not easy working as the CEO and President of a company, but Craig Menear has surely proven himself in his role these past three years. 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. Read more here! Account will be deleted and I will shop at Lowes! Craig Menear; Director ejecutivo de The Home Depot Actualmente en el cargo; Desde el 01 de noviembre de 2014: Informacin personal; Nacimiento? He serves as the chairman and is the former chief executive officer of The Home Depot. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. Craig Menear Wiki - Age, Wife, Family, & More. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's 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. Adelson did not respond to a request for comment. Who makes the tough business decisions to keep the company prosperous and overwhelmingly popular throughout the course of its history, and in this tough society? In January 2022, The Home Depot announced that he would step . Larry Page: net worth, age, children, wife, house, education, salary, profiles. This article about an American businessperson born in the 1950s is a stub.