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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. 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. Menear actually began his career with The Home Depot in 1997, and worked his way from the bottom to the top. We want to hear from you. Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Craig Menear (born c. 1958) is an American business executive. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table. People go: Got it. We lost that focus in the mid-2000s and candidly, we blew one of the biggest housing booms this country has ever seen in the 2004, 2005, 2006 era.. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. "Craig Menear's Home Depot: The Darling Of Wall Street", "Craig Menear, Flint native, named Home Depot CEO", "Inside the career of Home Depot CEO Craig Menear, who spent nearly 20 years working his way up the ladder", "Company Overview of The Home Depot, Inc.: Craig A. Menear", "Home Depot nails 2016 but CEO's pay drops slightly, to $11.5 million", "Why Home Depot CEO Craig Menear Is The Retailer Of The Year", https://en.wikipedia.org/w/index.php?title=Craig_Menear&oldid=1107007407, This page was last edited on 27 August 2022, at 16:50. Since then, he has become a regular donor to his alma mater throughout the years. Craig Menear is the Chairman of the Board. He attended Flint Central High School. 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. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. "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 was born in Flint, Michigan, USA, in the year 1958. The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. Home Depot's Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. "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. Stay up to date with what you want to know. 6. Political Campaign Contributions. As a result, The Home Depot sought to distance itself from the statement. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. 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. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. Menear has been into entrepreneurship from an early age. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. 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. 10 Things You Didnt Know about Targa Resources CEO Joe Bob Perkins, The Top Five Fast Food Franchises of 2017, The 10 Highest Grossing Films Directed by Steven Spielberg, 10 Things You Didnt Know about Mohit Kumar, 10 Things You Didnt Know about Leif K-Brooks, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. 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.. 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. 2. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. That makes a difference, believes Frank Blake. 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. 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. 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. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. Around ten years old, Craig remembers noticing a girl about the same age living just five houses down from him, her name was Dawn. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. He attended the local high school in his area before expanding his horizons after college, and learning the ropes of his now popular industry. 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. Read more here! With this being said, his executive staff has dedicated a lot of time, energy, and effort to making sure they are clearly communicating their approach, strategy, and how each team member has a profound impact on achieving The Home Depots outlined goals. His first job was at Montgomery Ward, a department store chain. His father worked as a tool and die maker at General Motors. 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. Earlier this month, a memo from the office of Florida Gov. You have to stay focused on the customers needs and when you lose that focus, bad things happen. In November 2014, he became the SEO of the company and has served as its chairman since February 2015. Home Depot shares closed Thursday at $356.43, down less than 1%, and are up about 30% over the past 12 months. A Division of NBCUniversal. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. [1] He became executive vice president of merchandising in 2007. Under his leadership, the company continues to . The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. The American entrepreneur cannot be contacted directly via his personal details. 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. By clicking Sign up, you agree to receive marketing emails from Insider In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. 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? 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. He is on the Board of Directors at Retail Industry Leaders . The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. If somebody had said, Okay, Frank, here blank sheet of paper. You can find out more information about Menear and the work he has put into The Home Depot online. Craig Menear (born c. 1958) is an American business executive. How it started and how to protect yourself: Tracking the spread in the US and Worldwide. 2023 CNBC LLC. . 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. Marcus in particular has once again made headlines by vowing to support. Hell do an outstanding job leading our company in the years ahead.. 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. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. { POLITICAL ACTION COMMITTEE: His first post-grad job was at Montgomery Ward, a department store chain. 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. And when it comes to political contributions, Home Depot and Lowe's both happen to reflect the conservative tendencies of many prominent retailers. 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. The new CEO will be Craig Menear, Atlanta-based Home Depot announced Thursday after the stock market closed. Atlanta, GA, US View. In 2021, the company had 490,600 employees and more than $151 billion in revenue. While glancing at his 13 years company's stock transaction . Adelson did not respond to a request for comment. Craig Menear (born c.1958) is an American business executive. 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. 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. } Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. Craig Menear Chairman and Chief Executive Officer. I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. Get this delivered to your inbox, and more info about our products and services. 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. Long before he got named The Home Depot CEO, Craig Menear was born in 1958 and raised among the bustling automobile manufacturing factories of Flint Michigan, a blue-collar town that once boasted some nine General Motors (GM) plants. The Home Depot has become a household name in house renovations, all under the leadership of Craig. Visit lattitude.net now! Learn More about Craig A. Menear's net worth. 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. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . Not long after the board appointed Menear, the former moved on and accepted an opportunity to become CEO of J.C. Penny. I couldnt do this without her, he humbly admitted to the Atlanta Business Chronicle in 2018. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. 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. 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. During his childhood, he had a lawn care business with which he bought his first car. 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. He serves as the chairman and is the former chief executive officer of The Home Depot. Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. His father was a tool and die maker at Flint General Motors. Photo by Patrick James Miller for Fortune The breach was, unquestionably . 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. 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. 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. Others in the loop would argue the contrary, that executives werent informed enough on the competition, given Lowes stellar rise; the one thing folks seem to universally agree about regarding this period in Home Depots history is its disheartening impact on all involved parties. Frank Blake has been Home Depot's chairman and CEO . In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. 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. 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. 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