Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. "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. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. Menear has donated to the Home Depot Political Action Committee over the years. 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. The founding team at Home Depot longtime home improvement executives Bernie Marcus and Arthur Blank, investor Ken Langone, and merchandising expert Pat Farrah. Adelson did not respond to a request for comment. 24/7 coverage of breaking news and live events. This site uses Akismet to reduce spam. Enjoy our content? In January 2022, The Home Depot announced that he would step . 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. Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. 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. 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? 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. For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . The list features prominent leaders from a range of major industries, from real estate to finance to sports. 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. Home Depot's vice president of corporate communications and external affairs issued a brief statement in response to questions from ABC News. Mr . forms: { He serves as the chairman and is the former chief executive officer of The Home Depot. The idea is to further unlock the interconnected retail vision the company began building many years ago. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. The two youthful love birds were dating by junior high, eventually graduated hand in hand from Central High School, and forever sealing their vintage Americana status as high school sweethearts, got married during the mid-80s; over three decades later, they are still going strong! Craig Menear is an inspiration to all the upcoming businesspersons. [3], Menear was educated at the Flint Central High School, graduating in 1975. Decker took over as CEO in March, when Menear stepped down from that role. 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. Thats right. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. 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 . With over 10 years experience he's covered businesses, CEOs, and investments. Atlanta-based Home Depot is a major political player in Georgia. Corporations have also been active political spenders at the state level. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. As of 14 November 2018, the estimated net worth of Craig Menear was more than $85.1 Million. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. 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. Craig Menear has created a big name for himself in the business of home improvement. "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. He previously served as chief merchant and executive vice president of merchandising. 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. 5. Under his leadership, the company continues to give quality services in supplying tools, construction products. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. . 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. His father worked as a tool and die maker at General Motors. Craig Menear is chairman, CEO and president of The Home Depot. Home Depot on Thursday also announced a new $15 billion share-buyback program. Find contact details for 700 million professionals. Linked companies : No connection available. Speaking to Atlanta Business Article, Craig mentioned that he met his wife in Michigan, his home state. 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. By DEE-ANN DURBIN January 27, 2022. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. He lives with his wife, and the couple also has two daughters. 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. Since then, he has become a regular donor to his alma mater throughout the years. Among other initiatives, they plan on adding 170 distribution facilities across America to reach 90% of the U.S. population in one day or less, moreover, another goal is to open hubs that will consolidate the freight for dispatch on to final-mile delivery vehicles appliances for Interline MRO, Pro, and do it yourself (DIY) hobbyists delivery from DFCs, vendors, and stores, in about 100 locations. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. 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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. And is Lowe's its liberal counterpart? The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. We will stand up and speak up, hitting Home . Not the Craig Menear you were looking for? He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund. In 2016, he received $11.5 million. 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. "Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles," said Blake. There are several fast food restaurants that have expanded over the past few years and should continue to grow over the next year. window.mc4wp = window.mc4wp || { Top editors give you the stories you want delivered right to your inbox each weekday. Home Depot says Craig Menear, the president of its U.S. retail operations, will become president and CEO of the company Nov. 1.. Frank Blake has been Home Depot's chairman and CEO since 2007, and . Family Life. But is Home Depot really a conservative company? The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. 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 next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . Menear was born and raised in Flint, Michigan to his family back in 1958. "As a long-time Home Depot veteran, Craig lives our . Both have vocalized consistent support for US President Donald Trump. Monday, January 31, 2022 6:11 AM UTC. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. 2 homedepot.com.trackapp.io; homedepot.com; 5+ 678362XXXX; 678-462-XXXX; 678-362-XXXX; 678-461-XXXX; 770-384-XXXX . In November 2014, he became the SEO of the company and has served as its chairman since February 2015. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. callback: cb Menear has been into entrepreneurship from an early age. Craig Menear. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. "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.". Menear said 98 words. It seems that there really is no stopping Craig Menear, and his attempts to make the company all about the customer. He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. You can help Wikipedia by expanding it. He serves as the chairman and is the former chief executive officer of The Home Depot. 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.. Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. There's a video about it on MyApron and probably on loop in your break room too. 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. He has had the role of Chief Executive Officer since 2014. Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. We want to hear from you. window.mc4wp.listeners.push( In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. "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. Has Worked For More Than Just The Home Depot. The show airs every weeknight at 11 pm Eastern Time on MSNBC. Craig Menear in Washington | Photos | Reviews | 18 building permits. 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. 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 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. "As a 22-year associate of The Home Depot, Ted . 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. Get this delivered to your inbox, and more info about our products and services. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. Menear has been the company's chief executive officer and chairman since November 2014, succeeding Frank Blake in these positions. For starters, seasoned associates at the company were less than thrilled to watch him oust long-time, trusted executives and replace them with outsider GE alumni. 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. Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. 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 has taken on increasing leadership responsibility over the last several years and has excelled in all his roles, said Blake. All Rights Reserved. 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. Even as the pandemic took hold shortly thereafter, demand for construction-type products actually soared due to homeowners being quarantined inside all day long with not much to do but pursue do-it-yourself projects around their household. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Turn on desktop notifications for breaking stories about interest? He has been ranked 29th in the top 1000 CEOs of private and public companies. 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. You are already subscribed to our newsletter! Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . 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). 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. Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. 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. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. Youve always got to be aware of what youre competing against but weve learned this the hard way, laments Menear. 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. As a result, The Home Depot sought to distance itself from the statement. Get this delivered to your inbox, and more info about our products and services. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. His first job was at Montgomery Ward, a department store chain. 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. 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. Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. Home Depot Inc. said Craig Menear, who took over as chief executive in November, received total compensation last year that was valued at $10.2 million. We want to hear from you. Recent work: Johnson/brooks single family residence - window rpl rmv/rpl 3 windows; no structural changes. Details of his birthday and month are yet to be revealed. Larry Page: net worth, age, children, wife, house, education, salary, profiles. 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. Search. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. He attended Flint Central High School. 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. Of Lowe's eight-person executive team, seven members including Ellison came to work at the company in 2018 or later. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. During his childhood, he had a lawn care business with which he bought his first car. They have also lived in Monrovia, CA and Kingston, TN. A Division of NBCUniversal. 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. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Download all contribution records for this person. All Rights Reserved. That makes up around 9% of the PAC's current cycle to-date disbursements. 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. 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. Biography of Craig Menear. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. 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. 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. I remember that. Langone, however, walked back his support of the president and denounced Trump after a mobattackedthe Capitol. . He attended the local high school in his area before expanding his horizons after college, and learning the ropes of his now popular industry. They outrank your supervisor. 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. ET and ABC News Live at 4 p.m. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. 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. Public asset : 66,160,504 USD. "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 . The Home Depot on Thursday named a veteran executive as its new CEO. Craig Menear's salary of $1.3 million has remained unchanged since his appointment to the position of CEO and President. Craig Menear (born c. 1958) is an American business executive. 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. He serves as the chairman and is the former chief executive officer of The Home Depot. As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. In 2007, he was appointed executive vice president of merchandising. He is one of the legendary news anchors in America today. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. 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. 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. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. 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. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. Craig Menear politics. After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. 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. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. Under his leadership, the company continues to . People go: Got it. [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. 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. [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. 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.

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