Corporations have also been active political spenders at the state level. 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. } The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. 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. 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. 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. Under his leadership, the company continues to give quality services in supplying tools, construction products. 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 . The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. The list features prominent leaders from a range of major industries, from real estate to finance to sports. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Net sales increased 44 percent to $108.5 billion in the first quarter, after already increasing 38 percent to $386.1 billion during the full year of 2020. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. Linked companies : No connection available. He is one of the legendary news anchors in America today. Menear has been the company's chief executive officer and chairman since November 2014, succeeding Frank Blake in these positions. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. ADVERTISEMENT. 2. The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. 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. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. In 2006, Home Depot brought on Office Depot logistics veteran Mark Holifield as senior vice president of Supply Chain. 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. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. Craig Menear is an inspiration to all the upcoming businesspersons. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. 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 Political Contributions in 2020. 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? forms: { Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. You could say that Menear has had a love for home improvement instilled in his blood from a young age. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. 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 . He replaces former CEO Craig Menear, who will retire as chair Sept. 30. In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. "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. 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. He's spent the vast majority of his career dealing with complex logistics, the expectations of builders and home . 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Menear was born and raised in Flint, Michigan to his family back in 1958. Adelson did not respond to a request for comment. He lives with his wife, and the couple also has two daughters. Craig Menear tries to be on the store floor of a Home Depot almost every week. But, what does the CEO of home depot make? In addition, he makes $10,889,800 as Chairman of the Board a Chief Executive Officer at Home Depot. 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. The company itself used to be involved in sports science but these days, its making a significant move toward healthcare. Mr Menear, getting involved in political statements. I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. 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. Enjoy our content? 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. 2023 CNBC LLC. listeners: [], But a modicum of political change may be at hand for both retailers in the coming election cycle. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. In this article, we are going to reveal to you ten things that you may not have known about Menear, and his time on top in The Home Depot company. 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.. Contribution Totals. "As a long-time Home Depot veteran, Craig lives our . Biography of Craig Menear. Craig Menear's house is located near The Home Depot headquarters in Atlanta, Georgia, where he lives with his wife, Dawn and two daughters. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. Learn More about Craig A. Menear's net worth. You have to stay focused on the customers needs and when you lose that focus, bad things happen. As a staff member, I remember the feeling of getting a note from the vice president of the United States saying nice job on something. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. "Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles," said Blake. })(); 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. Will Record Tuition Deductions Help Private Colleges? Garrett by trade is a personal finance freelance writer and journalist. 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. We want to hear from you. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. Get this delivered to your inbox, and more info about our products and services. 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. While glancing at his 13 years company's stock transaction . What are the admission requirements to study medicine at UCT 2022? [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. Around ten years old, Craig remembers noticing a girl about the same age living just five houses down from him, her name was Dawn. Craig Menear is chairman and CEO of The Home Depot, the world's largest home improvement retailer with more than 2,200 stores and 400,000 associates. Others Named Craig Menear. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. This site uses Akismet to reduce spam. Of Lowe's eight-person executive team, seven members including Ellison came to work at the company in 2018 or later. Stay up to date with what you want to know. ET and ABC News Live at 4 p.m. 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. That makes a difference, believes Frank Blake. 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? 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. Larry Page: net worth, age, children, wife, house, education, salary, profiles. 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. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. The Home Depot has become a household name in house renovations, all under the leadership of Craig. You can help Wikipedia by expanding it. 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. 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! From the policy debates to the political fights, today's . 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. That relentless work ethic the future executive displayed must have had something to do with the rugged midwestern upbringing he experienced, after all, his father frequently battered him with the mantra, if youre going to do something, do it 110%, or dont do it at all.. Ron DeSantis, a close ally of the president, declared "employees at a professional sports (league) and media production with a national audience" part of "essential workers" in Florida, allowing McMahon's pro-wrestling company to continue live television broadcasts from its Orlando training facility, while most businesses in Florida had been ordered to shut to help fight the spread of the coronavirus. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. The company's statement didn't give a reason for Menear's retirement. Craig Menear is the Chairman of the Board. window.mc4wp = window.mc4wp || { JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. 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. 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. At least 25 individuals have made substantial donations in support of Trump. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. Marcus in particular has once again made headlines by vowing to support. 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. Both have vocalized consistent support for US President Donald Trump. Read more here! He is on the Board of Directors at Retail Industry Leaders . Decker took over as CEO in March, when Menear stepped down from that role. His father worked as a tool and die maker at General Motors. Got a confidential news tip? In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . 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. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. Aug. 17, 2021. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . The American entrepreneur cannot be contacted directly via his personal details. "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. 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. "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. 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. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. 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. 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.. Like other CEOs, Craig has been vocal about his political stand in the US elections. It seems that there really is no stopping Craig Menear, and his attempts to make the company all about the customer. 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. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. We will stand up and speak up, hitting Home . 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. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago.
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