Author: Lois Furry. Connie Snyder: What do you know about Steve Ballmer wife? For some retailers, fewer in-person . In 2020, the Center for Responsive Politics listed the investor and his wife Elaine as two of the top hard money individual contributors. He serves as the chairman and is the former chief executive officer of The Home Depot. Learn More about Craig A. Menear's net worth. Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. After graduating from MSU, Menear began his career at the modest, now-defunct retailer, Montgomery Ward; which was a pioneering mail order and department store retailer that operated between 1872 and 2001. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. He worked his way through, and in 2007 he was named the Vice President of Merchandising. Ethics experts say it is certainly not the first time political donors have netted advisory posts. 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. Find contact details for 700 million professionals. Craig Menear: Home Depot Up until about 2013, Home Depot was an excellent place to drive over and grab what you needed for your special project. "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. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. Craig Menear in Washington | Photos | Reviews | 18 building permits. Tune into ABC at 1 p.m. Throughout the most recent years, it has shown greatly that The Home Depot has some of the best records when it comes to the stock market, and it is all thanks to the leadership of Mr. Craig Menear. 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. The Home Depot has become one of the more successful home improvement companies that Craig Menear has earned himself the 29th spot on the list of the top 1000 CEOs of private and public companies. 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. As of 14 November 2018, the estimated net worth of Craig Menear was more than $85.1 Million. References This . 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). Have you ever looked at a company or brand and wondered who runs the show? Photo by Patrick James Miller for Fortune The breach was, unquestionably . 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. 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. The home improvement retailer has gone through a period of tremendous growth during the pandemic, as nesting trends and a strong housing market collided. Craig Menear (born c. 1958) is an American business executive. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. Updated April 6, 2015 6:34 pm ET. de 1958 Flint, Mchigan, Estados Unidos: Nacionalidad: Estadounidense: Observers have cited the North Carolina-based company's financial support of minority-owned businesses and its current CEO Marvin Ellison's status as one of four Black Fortune 500 CEOs. We will stand up and speak up, hitting Home . 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. Age : 63. 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. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Decker, 58, has risen through the ranks at Home Depot since joining the company in 2000. The company currently has around 2200 stores and 400,000 associates. Menear began working at Home Depot in 1997. 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. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. He became president and COO in October 2020. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. He serves as the chairman and is the former chief executive officer of The Home Depot. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . In 1997, Craig joined The Home Depot, one of the largest home improvements firms in America. Home Depot on Thursday also announced a new $15 billion share-buyback program. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Craig Menear (born c.1958) is an American business executive. . He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . 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? Menear has been into entrepreneurship from an early age. By DEE-ANN DURBIN January 27, 2022. Decker took over as CEO in . During his childhood, he had a lawn care business with which he bought his first car. But a modicum of political change may be at hand for both retailers in the coming election cycle. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . There's a video about it on MyApron and probably on loop in your break room too. 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 . Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. } Family Life. He is on the Board of Directors at Retail Industry Leaders . For some home improvement shoppers, orange signs and blue signs are the new red states and blue states. 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. ); JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. Retail, among the industries hit hardest by the pandemic, received significant representation. Around ten years old, Craig remembers noticing a girl about the same age living just five houses down from him, her name was Dawn. People go: Got it. Will Record Tuition Deductions Help Private Colleges? Like other CEOs, Craig has been vocal about his political stand in the US elections. He's spent the vast majority of his career dealing with complex logistics, the expectations of builders and home . 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. 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. The company itself used to be involved in sports science but these days, its making a significant move toward healthcare. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. Got a confidential news tip? 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. Adelson did not respond to a request for comment. 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 . He has also supported initiatives through Home Depot, including the Home Depot Political Action Committee and a disaster relief fund. Follow Craig Menear on LinkedIn to get to know them better. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. Over the course of five years, the internal funding should spur innovations in everything from store enhancements and new e-commerce solutions to industry-leading delivery options, and a comprehensive ecosystem conducive to professional contractors (Pro). Monday, January 31, 2022 6:11 AM UTC. (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. Altogether, Lowe's leadership has been less overtly political in their spending than the Home Depot executive team. You have to stay focused on the customers needs and when you lose that focus, bad things happen. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. This article about an American businessperson born in the 1950s is a stub. event : evt, "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. Outgoing CEO Craig Menear will continue to serve as chair of the board. })(); 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. Craig Menear politics. When Craig Menear started looking for work after college, he wasn't really interested in retail, and he certainly did not imagine one day running the world's largest home improvement retailer. Of Lowe's eight-person executive team, seven members including Ellison came to work at the company in 2018 or later. Craig was named CEO and president in November 2014 and chairman in February 2015. on: function(evt, cb) { Join the Brooksy Society by subscribing to our Monthly Newsletter! Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. [1] He became executive vice president of merchandising in 2007. Digital sales rose 80% year over year, furthermore, customers picked up about 60% of those orders at a physical store. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. 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. Details of his birthday and month are yet to be revealed. In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. Richard Mcvey: age, children, first wife, height, career, profile, worth. 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! Shares of the company were effectively flat after hours. Decker took over as CEO in March, when Menear stepped down from that role. The PAC was previously called the Home Depot Better Government PAC in the early 2000s, only to be eventually renamed to promote transparency. Menear was named to Trump's Great American Economic Revival advisory group for retail earlier this year Craig Menear. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Top editors give you the stories you want delivered right to your inbox each weekday. He also explained that Dawn had been a great source of support throughout his career. Menear has donated to the Home Depot Political Action Committee over the years. Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. According to the Center for Responsive Politics, the Arthur M. Blank Foundation has only given $283 to Democratic candidates in 2020 so far, and zero dollars to Republicans. 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. He has also served as a Chairman for the company since 2015. 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. 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. 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. Select this result to view Craig Albert Menear's phone number, address, and more. "President Trumps policies built a booming economy and they will do so again.". 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. He previously served as chief merchant and executive vice president of merchandising. Get this delivered to your inbox, and more info about our products and services. Menear has donated to the Home Depot Political Action Committee over the years. 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. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. Menear said 98 words. Check your inbox to be the first to know the hottest news. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. 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 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. The list features prominent leaders from a range of major industries, from real estate to finance to sports. His first job was at Montgomery Ward, a department store chain. On 1 June 2016, Home Depot co-founder Bernie Marcus published an essay on the web site Real Clear Politics in which he announced that he was endorsing GOP candidate Donald Trump for President of . I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. . 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. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. Menear was born in Flint, Michigan, USA, in the year 1958. It became apparent this rebuild was reaching for the long-term as the great recession took hold, plunging the companys net income to $756 million in the three months ended Nov. 2, 2008, down 30.7% from $1.1 billion in the same period a year before. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. 2016 Election Cycle. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. Sign up for notifications from Insider! The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. 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. Home Depot's PAC has given the most money so far this year, shelling out $841,500 to Republicans and $653,500 to Democrats. You can find out more information about Menear and the work he has put into The Home Depot online. While Home Depot's PAC favors Republicans, the partisan balance of its giving has grown more even with each year. Contribution Totals. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. Who makes the tough business decisions to keep the company prosperous and overwhelmingly popular throughout the course of its history, and in this tough society? window.mc4wp = window.mc4wp || { Menear has donated to the Home Depot Political Action Committee over the years. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. "I have tremendous confidence that he will guide our company to new heights.". . Biography of Craig Menear. In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. By clicking Sign up, you agree to receive marketing emails from Insider 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.. 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. Thats right. In talking to the pro, they all have very strong books of business, Home Depot president and chief operating officer Ted Decker said. Of course, eager investors rewarded the stock by skyrocketing its value throughout the nationwide lockdown period to the tune of a record high of $339 per share in May 2021. I am Craig Menear CEO of Home Depot hater of Lowe's Destroyer Of IKEA Harbinger of Toilets Seller of Kitchen Cabinets Master of All PVC Tubes God of Construction Hardware BOW BEFORE ME MORTALS. Craig Menear Chairman & Chief Executive Officer. 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. Recruited from General Electric, Robert Nardelli was CEO of The Home Depot between 2000 and 2007, his tenure at the home improvement giant has since been scrutinized by analysts as far-reaching as the Wharton School of Finance, where one published study argueshe brought the wrong toolbox to the job. But how did he come to run the company in the first place? Political Campaign Contributions. 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. You can help Wikipedia by expanding it. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. Craig Menear is an inspiration to all the upcoming businesspersons. 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. "Craig is always careful not to make the success of The Home Depot about him, but to make it about all of the team," said Frank Blake, Menear's predecessor as CEO, serving in the role from . The company is involved in renovating or making additions to houses. 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. Craig Menear has created a big name for himself in the business of home improvement. Trump also appointed Treasure Island Hotels owner Phil Ruffin and casino mogul Sheldon Adelson to the council and assigned to its hospitality group. Both have vocalized consistent support for US President Donald Trump. 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.
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