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The Home Depot has become a household name in house renovations, all under the leadership of Craig. In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). Menear has donated to the Home Depot Political Action Committee over the years. 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. 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's salary of $1.3 million has remained unchanged since his appointment to the position of CEO and President. Menear started at Home Depot in 1997, and Decker began his tenure there in 2000. 24/7 coverage of breaking news and live events. window.mc4wp = window.mc4wp || { The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. POLITICAL ACTION COMMITTEE: "During Ted's tenure as CEO and a member of the board, we have witnessed firsthand his passion for the customer experience and our associates, and we look forward to continuing to work with him as chair," Greg Brenneman, the board's lead director, said in a news release. Menear has donated to the Home Depot Political Action Committee over the years. He is one of the legendary news anchors in America today. 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. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. After completing his university studies, the American businessman got into work at several retailers. 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. He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. 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. Of Lowe's eight-person executive team, seven members including Ellison came to work at the company in 2018 or later. 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. Together, they worked on several home improvement projects. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . 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 . The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. 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. In 2016, he received $11.5 million. During his childhood, he had a lawn care business with which he bought his first car. 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. Larry Page: net worth, age, children, wife, house, education, salary, profiles. At least 25 individuals have made substantial donations in support of Trump. He is on the Board of Directors at Retail Industry Leaders . For Langone, recent beneficiaries include official Republican Party offices across the United States, as well as big-name Republican members of Congress like Kevin McCarthy and Tom Cotton. Stay up to date with what you want to know. 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. Earlier this month, a memo from the office of Florida Gov. Marcus in particular has once again made headlines by vowing to support. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. A Division of NBCUniversal. 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. As a result, The Home Depot sought to distance itself from the statement. Under his leadership, the company continues to . In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world. 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. 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.. Outgoing CEO Craig Menear will continue to serve as chair of the board. 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 resides near The Home Depot headquarters, which are located in Atlanta, Georgia. 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. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. ATLANTA, Jan. 27, 2022 - The Home Depot , the world's largest home improvement retailer, today announced that Edward "Ted" Decker has been named CEO and president, and has been elected to the company's board of directors, all effective March 1, 2022.Craig Menear, currently chairman and CEO, will continue to serve as Chair of the Board. Mr . 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. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. In November 2014, he became the SEO of the company and has served as its chairman since February 2015. 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. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Under his leadership, the company continues to give quality services in supplying tools, construction products. Menear was named to Trump's Great American Economic Revival advisory group for retail earlier this year The founding team at Home Depot longtime home improvement executives Bernie Marcus and Arthur Blank, investor Ken Langone, and merchandising expert Pat Farrah. Like other CEOs, Craig has been vocal about his political stand in the US elections. 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 . After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. Over the course of 11 years, the ex-Home Depot executive gave the Atlanta-based chain's namesake PAC a total of $8,100. Check your inbox to be the first to know the hottest news. 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. Turn on desktop notifications for breaking stories about interest? Craig was named CEO and president in November 2014 and chairman in February 2015. listeners: [], Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. 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. Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. 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. Menear began working at Home Depot in 1997. President Trump's 'opening the country' council features several political donors and supporters . Craig Menear has created a big name for himself in the business of home improvement. 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. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . 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. 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. 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. Craig Menear in Washington | Photos | Reviews | 18 building permits. The American entrepreneur cannot be contacted directly via his personal details. 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! . While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. 6. Frank Blake has been Home Depot's chairman and CEO . The idea is to further unlock the interconnected retail vision the company began building many years ago. Craig Menear. What are the admission requirements to study medicine at UCT 2022? "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 . In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . 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. 2020 Transaction Count/Amount. "President Trumps policies built a booming economy and they will do so again.". But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". With the $11 billion investment, we told our investors well actually produce an ROIC north of 40.. A Home Depot store is seen in Washington, DC, on August 18, 2020. How it started and how to protect yourself: Tracking the spread in the US and Worldwide. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. 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. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. Learn how your comment data is processed. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. 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. To a Spreadsheet or Other File Type. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. This article about an American businessperson born in the 1950s is a stub. Over the past year, Home Depot has consistently been hammered online over the conservative political stances of two of its founders: Bernie Marcus and Ken Langone. Connie Snyder: What do you know about Steve Ballmer wife? He replaces former CEO Craig Menear, who will retire as chair Sept. 30. 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. He has also served as a Chairman for the company since 2015. However, these actions were met with backlash from the public. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. 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? The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table. But Home Depot's successunder the helm of president and CEO Craig Menearalso can be attributed to internal restructuring to improve profitability. 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. He lives with his wife, and the couple also has two daughters. Home Depot is the largest home improvement retailer in the United States. Both men are company veterans. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. "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. 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. Alma Mater. Mr Menear, getting involved in political statements. The company's statement didn't give a reason for Menear's retirement. And is Lowe's its liberal counterpart? . In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Craig Menear Chairman & Chief Executive Officer. Author: Lois Furry. 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. Donald Trump, left, and his partner, developer Phil Ruffin, speak during an opening ceremony for the Trump International Hotel & Tower Las Vegas, April 11, 2008, in Las Vegas, Nevada. } In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. 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. Home Depot's vice president of corporate communications and external affairs issued a brief statement in response to questions from ABC News. Since then, he has become a regular donor to his alma mater throughout the years. ADVERTISEMENT. Home Depot co-founder Bernie Marcus, who retired more than 20 years ago but has given $7 million to super PACs supporting Trump, is listed in the councils retail group alongside Home Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given $2,700 to the Trump campaign, the maximum an individual can give to a campaign per election. callback: cb Not long after the board appointed Menear, the former moved on and accepted an opportunity to become CEO of J.C. Penny. Craig Menear Political Contributions in 2020. Bernie M. Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. Many people are familiar with him because of his decade-long stint in the media industry. [1][2] His father worked as a tool and die maker for General Motors. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . That makes up around 9% of the PAC's current cycle to-date disbursements. Craig Menear; Director ejecutivo de The Home Depot Actualmente en el cargo; Desde el 01 de noviembre de 2014: Informacin personal; Nacimiento? Prior to that, Menear had been the company's chief executive since 2014. 2023 CNBC LLC. I remember that. 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. Want to connect with other businesses in the Latino community? Follow Craig Menear on LinkedIn to get to know them better. Menear has been into entrepreneurship from an early age. } Biography of Craig Menear. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. 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. Observers have cited the North Carolina-based company's financial support of minority-owned businesses and its current CEO Marvin Ellison's status as one of four Black Fortune 500 CEOs. For some retailers, fewer in-person . Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. 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. 2016 Election Cycle. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. [2][4][5], Menear joined Home Depot in 1997. Shares of the company were effectively flat after hours. Ruffin has given nearly $1 million to Trump Victory, the president's joint fundraising committee with the Republican National Committee, and another $1 million to Trump's inaugural committee. Learn More about Craig A. Menear's net worth. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. 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.