The Hispanic and Latino community are a huge clientele and work force of Home Depot, affording Home Depot in reaching the pinnacle of a successful corporation. 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! Home Depot's vice president of corporate communications and external affairs issued a brief statement in response to questions from ABC News. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. A Division of NBCUniversal. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. In total, ABC News identified at least 25 individuals appointed to the advisory council who have made substantial donations to his political campaigns or to outside groups supporting his presidency, raising concerns among prominent ethics watchdogs. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. 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They invested about $11 billion in the improvement of . Like other CEOs, Craig has been vocal about his political stand in the US elections. You are already subscribed to our newsletter! 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 . . Has Worked For More Than Just The Home Depot. How it started and how to protect yourself: Tracking the spread in the US and Worldwide. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . "As a 22-year associate of The Home Depot, Ted . The list features prominent leaders from a range of major industries, from real estate to finance to sports. 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. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. Outgoing CEO Craig Menear will continue to serve as chair of the board. } 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). The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. Atlanta, GA, US View. Menear said 98 words. He lives with his wife, and the couple also has two daughters. 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. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. 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. He is replaced by former executive vice president Ted Decker. 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. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. Under his leadership, the company continues to give quality services in supplying tools, construction products. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. 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. 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. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. Political Action Committee, the . Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. Craig Menear Political Contributions in 2020. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Menear was born c.1958 in Flint, Michigan. POLITICAL ACTION COMMITTEE: In fiscal 2013, the company reached sales of $78.8 billion and earnings of $5.4 billion. 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 . [1][2], Menear began his career at several retailers. 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. He has had the role of Chief Executive Officer since 2014. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. 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. 6. On August 21st of 2014, The Home Depot announced that Craig Menear, then president of U.S. retail, was named CEO and president, effective November 1, 2014. Craig Menear. 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. 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. The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. Sign up for notifications from Insider! You could say that Menear has had a love for home improvement instilled in his blood from a young age. 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. "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.". from 1999 to present. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . In January 2022, The Home Depot announced that he would step . event : evt, In 2016, he received $11.5 million. This article about an American businessperson born in the 1950s is a stub. 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. "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. 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. [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. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. He donated nothing to Democratic or liberal figures, according to the Center for Responsive Politics. Will Record Tuition Deductions Help Private Colleges? window.mc4wp = window.mc4wp || { In November 2014, he became the SEO of the company and has served as its chairman since February 2015. Follow Craig Menear on LinkedIn to get to know them better. Teddy W Solomon says: April 4, 2021 at 5:19 pm. 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 . 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. He is one of the legendary news anchors in America today. I know what that felt like. If you take care of your associates and take care of your customers, everything else takes care of itself., On August 21st of 2014, The Home Depot announced that Craig Menear, then president of U.S. retail, was named CEO and president, effective November 1, 2014. "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. 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. Learn more about the background of Craig Menear, the highly respected CEO of The Home Depot and his perspective on leadership and the future of business in a. Menear began working at Home Depot in 1997. Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. Home Depot Inc. Biography of Craig Menear. Has Been Known As The Darling Of Wall Street, 7. Thats right. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. 38/$15,620. He has been ranked 29th in the top 1000 CEOs of private and public companies. One of the biggest challenges looking ahead manifested in the form of consumer habits shifting, as online sales grew to 4% with no signs of slowing, leadership needed to ponder how best to sell items from barbecue grills and patio sets to actual bricks and mortar over the Internet. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Home Depot Inc on Thursday named 22-year company veteran Edward Ted Decker as its new chief executive officer and president, replacing Craig Menear, who will continue as chairman. Many Wall Street analysts attempted to make sense of the dramatic sales spike and what it could mean for future investors, here is a take from CNBCs Squawk Box covering the home improvement giants quarterly results: About 45% of Home Depots total sales come from Pro customers, and according to CNBC, as the pandemic winds down, they are seeing pent-up demand for professional projects as people feel comfortable inviting contractors back into their homes. The show airs every weeknight at 11 pm Eastern Time on MSNBC. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. Menear has been into entrepreneurship from an early age. 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.. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. For some retailers, fewer in-person . Frank Blake has been Home Depot's chairman and CEO . 5. Hell do an outstanding job leading our company in the years ahead.. The White House announced the appointment of 220 individuals this week assembled by President Donald Trump to serve on an advisory council to assist the White House coronavirus task force in developing a plan to restart the U.S. economy. He has also served as a Chairman for the company since 2015. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. As a result, The Home Depot sought to distance itself from the statement. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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.. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Adelson did not respond to a request for comment. Craig Menear (born c. 1958) is an American business executive. 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. One factor behind the lower rate of political contribution may simply be the newness of the North Carolina-based company's leadership. Marcus and Langone have spent millions supporting Republican and conservative causes over the years. Prior to that, Menear had been the company's chief executive since 2014. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. The company currently has around 2200 stores and 400,000 associates. A Home Depot store is seen in Washington, DC, on August 18, 2020. 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. Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. And when it comes to political contributions, Home Depot and Lowe's both happen to reflect the conservative tendencies of many prominent retailers. 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. 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. All Rights Reserved. Updated April 6, 2015 6:34 pm ET. Aug. 17, 2021. But is Home Depot really a conservative company? His father worked as a tool and die maker at General Motors. Holifields team then proceeded to engineer and execute on the companys supply chain transformation, adding a network of eighteen Rapid Deployment Centers to supply stores with unprecedented efficiency. In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. 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. Bernie M. His first job was at Montgomery Ward, a department store chain. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. Decker took over as CEO in . [1][2] His father worked as a tool and die maker for General Motors. There's a video about it on MyApron and probably on loop in your break room too. Of the two, Menear is clearly the more frequent contributor to political campaigns, politicians, and his current company's PAC. Langone, however, walked back his support of the president and denounced Trump after a mobattackedthe Capitol. That makes up around 9% of the PAC's current cycle to-date disbursements. He serves as the chairman and is the former chief executive officer of The Home Depot. He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. 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. 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. Want to connect with other businesses in the Latino community? For more information on making a gift to the Broad College of Business, contact Senior Director of Development Vivian Leung at leungv@msu.edu or call (517) 355-8504. 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. Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. He worked his way through, and in 2007 he was named the Vice President of Merchandising. Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. Both men are company veterans. 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. Shares of the company were effectively flat after hours. With the $11 billion investment, we told our investors well actually produce an ROIC north of 40.. 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. 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. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. Decker took over as CEO in March, when Menear stepped down from that role. His first post-grad job was at Montgomery Ward, a department store chain. Learn More about Craig A. Menear's net worth. 2. Prior to joining The Home Depot, he worked in a variety of roles in mass, home center and specialty retailing. Garrett by trade is a personal finance freelance writer and journalist. 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. U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . He attended Flint Central High School. 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. The new CEO will be Craig Menear, Atlanta-based Home Depot announced Thursday after the stock market closed. "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. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Of course, its not easy working as the CEO and President of a company, but Craig Menear has surely proven himself in his role these past three years. Quickly connect with Craig before . 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. At least 25 individuals have made substantial donations in support of Trump. Connie Snyder: What do you know about Steve Ballmer wife? Age : 63. 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. World Wrestling Entertainment Vince McMahon, the husband of major Trump donor and fundraiser Linda McMahon, is also listed as a member under the sports group. Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. 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.