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. Read more here! Global Business and Financial News, Stock Quotes, and Market Data and Analysis. event : evt, A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". The company's statement didn't give a reason for Menear's retirement. "President Trump, who has already brought together the private sector and federal government for unprecedented collaboration during the COVID-19 pandemic, is beginning a dialogue with prominent and successful individuals across multiple industries with different backgrounds and skillsets for the monumental task of re-opening the American economy," Deere wrote. He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. 6. [6] He was given $11.5 million in 2016. Menear said 98 words. U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . Menear was born and raised in Flint, Michigan to his family back in 1958. With the $11 billion investment, we told our investors well actually produce an ROIC north of 40.. 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. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. 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. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. In November 2014, he became the SEO of the company and has served as its chairman since February 2015. As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. In 2020, the breakdown for Lowe's' PAC's $602,000 was 25% to Democrats and 75% to Republicans. We need to transform Home Depot to allow customers to shop when, where, and how they want to, Menear said in a 2014 interview at the companys Atlanta headquarters. POLITICAL ACTION COMMITTEE: 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. window.mc4wp.listeners.push( 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. 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. Over the course of 11 years, the ex-Home Depot executive gave the Atlanta-based chain's namesake PAC a total of $8,100. Updated April 6, 2015 6:34 pm ET. As a CEO and President of Home Depot, he earns a base salary of $1.3 million per annum. The estimated Net Worth of Craig A Menear is at least $101 Milion dollars as of 20 August 2021. Contribution Totals. 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! [1] He became executive vice president of merchandising in 2007. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. 38/$15,620. Craig Menear politics. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . Home Depot is the largest home improvement retailer in the United States. Outgoing CEO Craig Menear will continue to serve as chair of the board. We want to hear from you. Menear, 57, has been president of the company's U.S. retail operations since February . Clearly, he knows his way around technical issues with computers, but there has to be more to, Read More 10 Things You Didnt Know about Leif K-BrooksContinue. 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.. 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 foundation has nearly doubled its political giving since 2018. He also explained that Dawn had been a great source of support throughout his career. Learn how your comment data is processed. People go: Got it. "It's not entirely clear what the parameters were for deciding who is included or not included, but there do seem to be a significant number of Trump donors on this list," Brendan Fischer, a federal reforms director at watchdog group Campaign Legal Center, told ABC News. Menear has donated to the Home Depot Political Action Committee over the years. 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. Atlanta-based Home Depot is a major political player in Georgia. All Rights Reserved. His own father was a tool and die maker that worked at GM for forty-one years, and on the few off days to be had, the working-class man often recruited the help of his son for strenuous home improvement projects; perhaps Craig enjoyed these early boyhood do-it-yourself construction tasks, considering the billion-dollar company hed ultimately helm. Stay up to date with what you want to know. Craig Menear Chairman & Chief Executive Officer. de 1958 Flint, Mchigan, Estados Unidos: Nacionalidad: Estadounidense: "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.". Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. 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. He previously served as chief merchant and executive vice president of merchandising. 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. [2][4][5], Menear joined Home Depot in 1997. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . His first job was at Montgomery Ward, a department store chain. Craig Menear's house is located near The Home Depot headquarters in Atlanta, Georgia, where he lives with his wife, Dawn and two daughters. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. Aug. 17, 2021. . Prior to that, Menear had been the company's chief executive since 2014. The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. 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 . Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. He isnt necessarily the prototypical hotshot CEO we all imagine in our heads when thinking of somebody who has experienced his degree of success or that wields so much economic power, as a matter of fact, hes humble, soft-spoken, and were you to encounter him on the street, theres probably no way youd know he leads an army of 300,000 ready to help associates spread across the North American continent. Dating back to January 21, 2005, Menear has donated $97,921.16 to the Home Depot Inc., Political Action Committee. . His father was a tool and die maker at Flint General Motors. Briefly.co.za recently published an article about Brian Williams' biography. 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? on: function(evt, cb) { A Home Depot store is seen in Washington, DC, on August 18, 2020. He became president and COO in October 2020. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. NOW WATCH: Why groundhogs are hard to get rid of, Visit Business Insider's homepage for more stories. But simply examining large donations from retired founders does not lead to a complete or accurate picture of either Home Depot or Lowe's' political leanings. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. Like other CEOs, Craig has been vocal about his political stand in the US elections. In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. I remember that. To a Spreadsheet or Other File Type. 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. 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. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. A Division of NBCUniversal. 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. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. 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. Get this delivered to your inbox, and more info about our products and services. The show airs every weeknight at 11 pm Eastern Time on MSNBC. 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 . 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. Altogether, Lowe's leadership has been less overtly political in their spending than the Home Depot executive team. "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.". Text. 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. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. Tune into ABC at 1 p.m. Under his leadership, the company continues to . A Division of NBCUniversal. 2016 Election Cycle. After passing, he joined Michigan State University, Eli College of Business, where he graduated with a Bachelor of Arts Degree in 1979. Menear has donated to the Home Depot Political Action Committee over the years. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. "Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles," said Blake. 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. Both public and private colleges are competing for a limited number of students. You can help Wikipedia by expanding it.
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