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: , Top editors give you the stories you want delivered right to your inbox each weekday. 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). But a modicum of political change may be at hand for both retailers in the coming election cycle. [6] He was given $11.5 million in 2016. Check your inbox to be the first to know the hottest news. He serves as the chairman and is the former chief executive officer of The Home Depot. He became president and COO in October 2020. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. 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. 2016 Election Cycle. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. That makes up around 9% of the PAC's current cycle to-date disbursements. 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. 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. The pair has given $470,300 this year, with 99% of that money going to Republican 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 got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. Age : 63. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. 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. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. forms: { If somebody had said, Okay, Frank, here blank sheet of paper. He then worked at Builders Emporium and was also a distribution manager at IKEA. Stephen Schwarzman, CEO of the asset management group Blackstone, will join the council's financial services and real estate groups. 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. He also explained that Dawn had been a great source of support throughout his career. "As a long-time Home Depot veteran, Craig lives our . 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. Political Action Committee, according to FEC data. Want to connect with other businesses in the Latino community? During his childhood, he had a lawn care business with which he bought his first car. You can help Wikipedia by expanding it. This article about an American businessperson born in the 1950s is a stub. Menear has donated to the Home Depot Political Action Committee over the years. Corporations have also been active political spenders at the state level. [1] He became executive vice president of merchandising in 2007. 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? From the policy debates to the political fights, today's . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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.. 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. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. Menear has donated to the Home Depot Political Action Committee over the years. Before joining The Home Depot in 1997, Craig served in various roles with retailers such as IKEA, Builders Emporium, Grace Home. 6. 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. Both public and private colleges are competing for a limited number of students. 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. Contribution Totals. Prior to that, Menear had been the company's chief executive since 2014. Menear has donated to the Home Depot Political Action Committee over the years. Political Action Committee, the . 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 . Brian is currently a news anchor of The 11th Hour with Brian Williams. "And you do have to question whether some of these people would have been included if they weren't major financial supporters of the president and his party.". Mr Menear, getting involved in political statements. window.mc4wp = window.mc4wp || { Download all contribution records for this person. 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. His father worked as a tool and die maker at General Motors. Mr. Menear owns 277,604 shares of Home Depot stock worth more than $88,264,192 as of February 21st. 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. Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. 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. event : evt, ); He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. Home Depot forced a worker to quit after he wore a slogan supporting the Black Lives Matter movement on his apron, and it threatened to punish other employees who tried to bring . He serves as the chairman and is the former chief executive officer of The Home Depot. Not the Craig Menear you were looking for? Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. Photo by Patrick James Miller for Fortune The breach was, unquestionably . 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? Marcus in particular has once again made headlines by vowing to support. 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. } Tune into ABC at 1 p.m. 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. ET and ABC News Live at 4 p.m. Outgoing CEO Craig Menear will continue to serve as chair of the board. His first post-grad job was at Montgomery Ward, a department store chain. 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 2016, he received $11.5 million. Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund. 2. While Lowe's lacks a set of high-profile, long-retired Republican mega-donor founders to match those at Home Depot, differences between the two companies' political contribution strategies are thinner that a skim coating of paint. 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. For some retailers, fewer in-person . Menear has been at the retailer for more than 20 years and began as CEO in November 2014. "You need to have public health professionals, you need somebody who represents the grocery workers, somebody who represents hospitality workers, and so on.". 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. The company currently has around 2200 stores and 400,000 associates. Get this delivered to your inbox, and more info about our products and services. Many people are familiar with him because of his decade-long stint in the media industry. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. It seems that there really is no stopping Craig Menear, and his attempts to make the company all about the customer. 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. Author: Lois Furry. The American businessman has kept much of his personal life out of the spotlight. 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. Aug. 17, 2021. Craig Menear in Washington | Photos | Reviews | 18 building permits. 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. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. However, as of 2021, he is 63 years old. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. Others Named Craig Menear. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. Menear started at Home Depot in 1997, and Decker began his tenure there in 2000. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. Craig Menear. Learn how your comment data is processed. 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. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . recently published an article about Brian Williams' biography. 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. Name Total COMPENSATION; Albert P. Carey: Total Cash $315,000: 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. In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. 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%. For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. Menear actually began his career with The Home Depot in 1997, and worked his way from the bottom to the top. 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. 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. While glancing at his 13 years company's stock transaction . In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. Alma Mater. Menear was born c.1958 in Flint, Michigan. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. Sign up for free newsletters and get more CNBC delivered to your inbox. Craig Menear - Chairman, Chief Executive Officer and President. Transactions of nine hundred dollars or more, which represent around 20% of Home Depots sales in the United States, began stabilizing by the start of 2010. At least 25 individuals have made substantial donations in support of Trump. A Division of NBCUniversal. Altogether, Lowe's leadership has been less overtly political in their spending than the Home Depot executive team. Monday, January 31, 2022 6:11 AM UTC. As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. 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 announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. 2023 CNBC LLC. He is on the Board of Directors at Retail Industry Leaders . Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. ADVERTISEMENT. Together, they worked on several home improvement projects. They invested about $11 billion in the improvement of . Langone, however, walked back his support of the president and denounced Trump after a mobattackedthe Capitol. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Prior to joining The Home Depot, he worked in a variety of roles in mass, home center and specialty retailing. 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. 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.. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . Larry Page: net worth, age, children, wife, house, education, salary, profiles. His first job was at Montgomery Ward, a department store chain. Got a confidential news tip? Dating back to January 21, 2005, Menear has donated $97,921.16 to the Home Depot Inc., Political Action Committee. Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. There are several fast food restaurants that have expanded over the past few years and should continue to grow over the next year. [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. Decker took over as CEO in . The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. 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. 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You can find out more information about Menear and the work he has put into The Home Depot online. 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. from 1999 to present. 5. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. POLITICAL ACTION COMMITTEE: But is Home Depot really a conservative company? A Home Depot store is seen in Washington, DC, on August 18, 2020. In fiscal 2013, the company reached sales of $78.8 billion and earnings of $5.4 billion. 24/7 coverage of breaking news and live events. Get this delivered to your inbox, and more info about our products and services. Palmer's real estate firm G.H. Sign up for notifications from Insider! There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. 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. After completing his university studies, the American businessman got into work at several retailers. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. 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. He has been ranked 29th in the top 1000 CEOs of private and public companies. As published in the Atlanta Business Chronicle on June 1, 2018In early 2014, three people were in the running to succeed Frank Blake as CEO of The Home Depot Inc. Craig Menear, who eventually . Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead. Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. Fifty-one percent of Trump's billionaire donors did not give to the president's 2016 campaign. [8], Menear is a donor to his alma mater, Michigan State University. Menear was born in Flint, Michigan, USA, in the year 1958. Bernie M. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. He is replaced by former executive vice president Ted Decker. Access your favorite topics in a personalized feed while you're on the go. Craig Menear has served as CEO and President of The Home Depot since November 2014 and Chairman since February 2015. 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. One factor behind the lower rate of political contribution may simply be the newness of the North Carolina-based company's leadership. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. Bernie Marcus attends Lord & Taylor toasts Georgia Aquarium founder Bernie Marcus at Del Posto, April 18, 2007, in New York City. 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. Public asset : 66,160,504 USD. 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. By clicking Sign up, you agree to receive marketing emails from Insider He has also served as a Chairman for the company since 2015. Craig Menear Wiki - Age, Wife, Family, & More. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive.
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