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[1] He became executive vice president of merchandising in 2007. 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. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Craig Menear politics. He will be replacing Craig Menear, who has been . 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. A Division of NBCUniversal. Alma Mater. 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. However, these actions were met with backlash from the public. 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. Outgoing CEO Craig Menear will continue to serve as chair of the board. Account will be deleted and I will shop at Lowes! In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. 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. After completing his university studies, the American businessman got into work at several retailers. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . Mr . However, as of 2021, he is 63 years old. 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? 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. 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 . "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. A Division of NBCUniversal. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Political Action Committee, according to FEC data. Home Depot's Chief Operating Officer Ted Decker will step into the role of CEO, as of March 1. ); This site uses Akismet to reduce spam. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. 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. Through his able leadership, the company has grown significantly. "It's an example of how writing big checks to the president and a super PAC means that your voice is heard louder than many others, Fischer said. Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. Prior to that, Menear had been the company's chief executive since 2014. 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. } "During Ted's tenure as CEO and a member of the board, we have witnessed firsthand his passion for the customer experience and our associates, and we look forward to continuing to work with him as chair," Greg Brenneman, the board's lead director, said in a news release. Home Depot's vice president of corporate communications and external affairs issued a brief statement in response to questions from ABC News. 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. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. Craig Menear (born c. 1958) is an American business executive. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . 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. 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. Menear has donated to the Home Depot Political Action Committee over the years. 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. For Menear, one of his most important tasks when taking over as CEO was keeping the company customer centered while also keeping up with the advancing technology that has taken over our society. They have also lived in Monrovia, CA and Kingston, TN. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. Menear was named to Trump's Great American Economic Revival advisory group for retail earlier this year Work Biography for Craig Menear. })(); 15 Technical Indicators That Every Day Trader Should Know, grew 24.6% in the pandemics first quarter, Kraft Heinz CEO: Miguel Patricio Biography, 12 Inspirational Books David Friedberg Recommends, 10 Inspirational Books David Sacks Recommends Reading, 20 Inspirational Books Reid Hoffman Recommends Reading, 5 Inspirational Books Paul Tudor Jones Recommends, 20 Inspirational Books Nassim Taleb Recommends Reading, The 3 Best Day Trading Strategies for Beginners, 5 Chart Patterns Every Beginner Trader Should Know, How Day Trader Ricky Gutierrez Grew His YouTube Channel, How to Buy Your First Stock, with Ricky Gutierrez. Search. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. Craig Menear took over as CEO in 2014 and finally introduced a refined and robust IT department to fuel a significant transformation change coming. Lowe's has given $376,000 to Republicans and $164,500 to Democrats thus far. 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. The Home Depot, Inc. (NYSE:NYSE:HD) Alliance Bernstein 37th Annual Strategic Decisions Conference June 3, 2021 1:30 PM ETCompany ParticipantsCraig Menear - Chairman and Chief Executive. References This . Together, they worked on several home improvement projects. A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". 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. . 2016 Election Cycle. Everything to know about him, De Lille reveals ANC ministers and deputies live in lavish Pretoria and Cape Town houses worth R1bn, SA awed, Mpho Wabadimo and Thema Broly allegedly split after 'BBMzansi' winner posts cryptic pictures on Instagram, Twitter men defend Zamani Mbatha amid cheating scandal after girlfriend Snikiwe Mhlongo exposed him: "Protect Zamani", Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Read more here! However, he could be reached through his work contacts. 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. 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. 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. [2] Succeeding Frank Blake in these roles, Menear has served as its chief executive officer since November 2014,[2] and as its chairman since February 2015. The American businessman has kept much of his personal life out of the spotlight. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. 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. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. [3][9] He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund.[9][4]. Craig Menear's salary of $1.3 million has remained unchanged since his appointment to the position of CEO and President. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. Family Life. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. 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. Under his leadership, the company continues to give quality services in supplying tools, construction products. Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. Photo by Patrick James Miller for Fortune The breach was, unquestionably . He worked his way through, and in 2007 he was named the Vice President of Merchandising. Menear actually began his career with The Home Depot in 1997, and worked his way from the bottom to the top. Biography of Craig Menear. That makes up around 9% of the PAC's current cycle to-date disbursements. 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 company's statement didn't give a reason for Menear's retirement. Still, amidst troubled financial waters, Blake chose to make investments in his operations by continuing to modernize their supply chain, rethinking the role technology could play in their retail strategy, and most importantly, emphasizing the tremendous impact that each hired hand in each store has on Home Depots success. 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. His first post-grad job was at Montgomery Ward, a department store chain. They outrank your supervisor. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . 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 . The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. 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. 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. He serves as the chairman and is the former chief executive officer of The Home Depot. Richard Mcvey: age, children, first wife, height, career, profile, worth. But, what does the CEO of home depot make? Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. Visit lattitude.net now! Craig Menear tries to be on the store floor of a Home Depot almost every week. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. 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. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. 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 . The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table.