38/$15,620. Speaking to Atlanta Business Article, Craig mentioned that he met his wife in Michigan, his home state. Here Are The Billionaires Backing Donald Trump's Campaign, As Of 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. 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. Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. [1] He became executive vice president of merchandising in 2007. Craig Menear (born c. 1958) is an American business executive. Craig A Menear - Add Relationship - LittleSis Craig Menear Net Worth (2023) | wallmine 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. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. Reply. Dealing a further blow to internal morale, he also increased the number of less knowledgeable part-time workers at Home Depots stores, which left full-time employees fuming and led to a diminishment of customer service, one of the companys strengths, recounted Barry Henderson, an equities expert at T. Rowe Price. Craig Menear. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. You could say that Menear has had a love for home improvement instilled in his blood from a young age. 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. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. 2023 CNBC LLC. 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. That makes a difference, believes Frank Blake. 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. Text. Starting in 2019, a Nevada voter named Patrick Farrah is listed by the FEC as having donated thousands toward Republican candidates like Lindsey Graham, Mitch McConnell, Kevin McCarthy, and Duncan Hunter, as well as the PAC Bikers for the President. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. However, he could be reached through his work contacts. } 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. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: Updated April 6, 2015 6:34 pm ET. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. Quickly connect with Craig before . Home Depot's Craig Menear upbeat about company's future Get this delivered to your inbox, and more info about our products and services. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. 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. Before joining The Home Depot in 1997, Craig served in various roles with retailers such as IKEA, Builders Emporium, Grace Home. 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. In 2021, the company had 490,600 employees and more than $151 billion in revenue. Enjoy our content? 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 2007, he gained the title of Vice President of Merchandising for the company, which led to his becoming CEO in the fall of 2014. Home Depot founders and Republican mega-donors Ken Langone and Bernie Marcus have attracted controversy over their donations to Republican groups and politicians, including US President Donald Trump. We just went back to some foundational statements from [founders] Bernie Marcus and Arthur Blank in terms of our company values and what we stand for. CEO Craig Menear is also a major Republican donor. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. Atlanta, GA, US View. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . And when it comes to political contributions, Home Depot and Lowe's both happen to reflect the conservative tendencies of many prominent retailers. Craig Menear - $23,400 in Political Contributions for 2016 - CampaignMoney 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.. Mr . Altogether, Lowe's leadership has been less overtly political in their spending than the Home Depot executive team. However, these actions were met with backlash from the public. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. Menear has donated to the Home Depot Political Action Committee over the years. from 1999 to present. Prior to that, Menear had been the company's chief executive since 2014. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. His first post-grad job was at Montgomery Ward, a department store chain. 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. Find contact details for 700 million professionals. Following publication of this report, White House deputy press secretary Judd Deere issued a brief statement to ABC News. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. Download all contribution records for this person. This net worth approximation does not reflect any other investments that Mr. Menear may own. At least 25 individuals have made substantial donations in support of Trump. As a result, The Home Depot sought to distance itself from the statement. [2][4][5], Menear joined Home Depot in 1997. 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. Retailers Predict Post-Pandemic Shopping Trends in Q1 Earnings Calls 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. Home Depot, Lowe's' Politics Don't Diverge As Much As You Might Think As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. Turn on desktop notifications for breaking stories about interest? 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. He also explained that Dawn had been a great source of support throughout his career. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. Home Depot CEO - Craig Menear (Age 63) - ListOfCEO Both public and private colleges are competing for a limited number of students. Frank Blake has been Home Depot's chairman and CEO . Craig Menear works as a Board Member Craig graduated from Michigan State University's Eli Broad College of Business and They used to work at Camp Southern Ground and have used the following emails: , @homedepot.com. He then worked at Builders Emporium and was also a distribution manager at IKEA. Craig Menear - Biography - MarketScreener.com Around ten years old, Craig remembers noticing a girl about the same age living just five houses down from him, her name was Dawn. He has made the occasional one-off donation to other, largely Republican, candidates and campaigns, including now-Sen. Mitt Romney's presidential run, Jeb Bush, and David Perdue. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Mr. Menear owns 277,604 shares of Home Depot stock worth more than $88,264,192 as of February 21st. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. 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. 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. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. 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. 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. 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. . Got a confidential news tip? 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. Menear has donated to the Home Depot Political Action Committee over the years. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. His skills can be looked up to and learned from. 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. Family Life. 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. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. This article about an American businessperson born in the 1950s is a stub. Retail PACs have given a total amount of $5,169,932 to candidates so far this year, with 43% of that money going to Democratic candidates, and 57% going to Republican contenders. Craig Menear has created a big name for himself in the business of home improvement. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. 6. 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. There are several fast food restaurants that have expanded over the past few years and should continue to grow over the next year. Give Me an H: Chairman and CEO Craig Menear's Passion for Retail Starts 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 . Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. Sign up for free newsletters and get more CNBC delivered to your inbox. His family also took part in the tool and improvement industry, as his father worked as a tool maker and dye maker for the company General Motors. Richard Mcvey: age, children, first wife, height, career, profile, worth. Craig Menear Political Contributions in 2020. Country of residence : Unknown. 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. Home Depots stock value dropped 8% by the time Nardelli was exiled by the companys board in 2007, for comparison, during that time, Lowes shares soared some 180%. 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 . Have you ever looked at a company or brand and wondered who runs the show? Craig Menear - YouTube Craig Menear is the Chairman of the Board. 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. 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. 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. According to Bizjournals, he made a total of $10,889,833 in 2019 and $13,995,092 from the year after. 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. The American entrepreneur cannot be contacted directly via his personal details. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. Answer (1 of 47): I have stopped shopping at Home Depot and I greatly regret the many tens of thousands of dollars I have spent there in the past. Tune into ABC at 1 p.m. Check your inbox to be the first to know the hottest news. Of the two, Menear is clearly the more frequent contributor to political campaigns, politicians, and his current company's PAC. Home Depot CEO Craig Menear Gives Back to Business | Giving to Michigan Prior to joining The Home Depot, he worked in a variety of roles in mass, home center and specialty retailing. 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. As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. He is replaced by former executive vice president Ted Decker. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. It [the investment] will also go into our associates in forms of both wage benefits and technology to help them do their job, Menear adds in a brief chat with Bloomberg. But, what does the CEO of home depot make? 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. [1][2] His father worked as a tool and die maker for General Motors. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. 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. 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. 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 . The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Monday, January 31, 2022 6:11 AM UTC. Board of Directors | The Home Depot Craig Menear | ZoomInfo He is one of the legendary news anchors in America today. In 2006, Home Depot brought on Office Depot logistics veteran Mark Holifield as senior vice president of Supply Chain. Age : 63. 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. Home Depot names company veteran Ted Decker as CEO - CNBC 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. 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. For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. He serves as the chairman and is the former chief executive officer of The Home Depot.