Contribution Totals. Read more here! In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. Earlier this month, a memo from the office of Florida Gov. 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. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. 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. window.mc4wp.listeners.push( The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. Even as the pandemic took hold shortly thereafter, demand for construction-type products actually soared due to homeowners being quarantined inside all day long with not much to do but pursue do-it-yourself projects around their household. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. Menear has donated to the Home Depot Political Action Committee over the years. 2. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. Aug. 17, 2021. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. Adelson did not respond to a request for comment. 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 politics. Ethics experts say it is certainly not the first time political donors have netted advisory posts. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. 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. They outrank your supervisor. Stay up to date with what you want to know. The announcement comes two days after Home Depot's second-quarter earnings report, which reflected strong performance even as consumers grappled with high inflation. 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. U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . callback: cb Digital sales rose 80% year over year, furthermore, customers picked up about 60% of those orders at a physical store. In 2006, Home Depot brought on Office Depot logistics veteran Mark Holifield as senior vice president of Supply Chain. 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. 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 . Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles, said Blake. . 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 show airs every weeknight at 11 pm Eastern Time on MSNBC. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. 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. 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. 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. 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. In 2007, he gained the title of Vice President of Merchandising for the company, which led to his becoming CEO in the fall of 2014. From the policy debates to the political fights, today's . 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Will Record Tuition Deductions Help Private Colleges? A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. 2020 Transaction Count/Amount. 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). 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. The American entrepreneur cannot be contacted directly via his personal details. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. Menear has donated to the Home Depot Political Action Committee over the years. In this article, we are going to reveal to you ten things that you may not have known about Menear, and his time on top in The Home Depot company. Craig Menear's salary of $1.3 million has remained unchanged since his appointment to the position of CEO and President. 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. 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. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Under his leadership, the company continues to . I remember that. The idea is to further unlock the interconnected retail vision the company began building many years ago. 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. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. President Trump's 'opening the country' council features several political donors and supporters . Many people are familiar with him because of his decade-long stint in the media industry. Home Depot Inc. [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. Like other CEOs, Craig has been vocal about his political stand in the US elections. Got a confidential news tip? As a result, The Home Depot sought to distance itself from the statement. In January 2022, The Home Depot announced that he would step . [1][2] His father worked as a tool and die maker for General Motors. The company's statement didn't give a reason for Menear's retirement. "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.". Through his able leadership, the company has grown significantly. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. Menear was born and raised in Flint, Michigan to his family back in 1958. Follow Craig Menear on LinkedIn to get to know them better. After completing his university studies, the American businessman got into work at several retailers. "President Trumps policies built a booming economy and they will do so again.". 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 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. 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 . "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. Mr Menear, getting involved in political statements. In 2020, the breakdown for Lowe's' PAC's $602,000 was 25% to Democrats and 75% to Republicans. If you enjoyed this story on the life of Home Depot CEO Craig Menear, be sure to check out our biography of Lowes CEO Marvin Ellison! Hell do an outstanding job leading our company in the years ahead.. } Craig brings decades of retail experience from mass, home center, specialty and big box retailing to his role during a time when the retail landscape is rapidly changing. Visit lattitude.net now! The question, ethics experts said, is whose interests are best represented and how they earned a proverbial seat at the table. Craig Menear Chairman and Chief Executive Officer. 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. 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! 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. JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. The list features prominent leaders from a range of major industries, from real estate to finance to sports. 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. 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. He is one of the legendary news anchors in America today. The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. ADVERTISEMENT. The board thanked Menear for his service with the company, and praised Decker's performance thus far as CEO. 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. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. 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. Craig Menear (born c.1958) is an American business executive. . Menear has been into entrepreneurship from an early age. He has been ranked 29th in the top 1000 CEOs of private and public companies. Fifty-one percent of Trump's billionaire donors did not give to the president's 2016 campaign. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. 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. Has Been Known As The Darling Of Wall Street, 7. He is the chairman and CEO of, The Home Depot, one of the largest home improvement firms in America. 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. The estimated Net Worth of Craig A Menear is at least $97.7 Milion dollars as of 20 August 2021. He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund. Recent work: Johnson/brooks single family residence - window rpl rmv/rpl 3 windows; no structural changes. Both have vocalized consistent support for US President Donald Trump. 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.. He is replaced by former executive vice president Ted Decker. "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. But the recurring partisan controversy fails to capture the fact that both home improvement companies skew conservative when it comes to political giving a tendency they share with many major retailers. He lives with his wife, and the couple also has two daughters. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing.