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He serves as the chairman and is the former chief executive officer of The Home Depot. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. He previously served as chief merchant and executive vice president of merchandising. 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. Schwarzman gave nearly $1 million to Trump Victory and the Trump inaugural committee and gave another $3 million to America First Action. 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. If somebody had said, Okay, Frank, here blank sheet of paper. But scattered among them are several of Trumps friends, supporters, and political donors. 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? forms: { as well as other partner offers and accept our, A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge, Before that, he worked at Montgomery Ward and. Like other CEOs, Craig has been vocal about his political stand in the US elections. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. Under his leadership, the company continues to . Garrett by trade is a personal finance freelance writer and journalist. At least 25 individuals have made substantial donations in support of Trump. A Home Depot spokesperson told Business Insider that the business, as a "long-standing" company policy, does not "endorse or contribute to presidential candidates.". That growth has continued, including in the most recent fiscal quarter, even as some consumers hired home professionals in lieu of do-it-yourself projects. In 2020, the Center for Responsive Politics listed the investor and his wife Elaine as two of the top hard money individual contributors. That makes a difference, believes Frank Blake. "I have tremendous confidence that he will guide our company to new heights.". In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. 2016 Election Cycle. })(); 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. When I joined the company, we were still decentralized, 75% of our goods went direct from the manufacturer to each individual store, and as the business evolved, that supply chain just didnt work anymore; it was really inefficient.. Under his leadership, the company continues to give quality services in supplying tools, construction products. He became president and COO in October 2020. He serves as the chairman and is the former chief executive officer of The Home Depot. 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 . Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. } Craig Menear, chairman, president, and CEO of The Home Depot and alumnus of the Broad College of Business, was the commencement speaker at the spring undergr. World Wrestling Entertainment Vince McMahon, the husband of major Trump donor and fundraiser Linda McMahon, is also listed as a member under the sports group. The foundation has nearly doubled its political giving since 2018. President Trump's 'opening the country' council features several political donors and supporters . In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. He worked his way through, and in 2007 he was named the Vice President of Merchandising. ADVERTISEMENT. Langone, however, walked back his support of the president and denounced Trump after a mobattackedthe Capitol. Spielberg is a legend, Read More The 10 Highest Grossing Films Directed by Steven SpielbergContinue, What do you know about Mohit Kumar, the CEO of Ultrahuman? Decker took over as CEO in March, when Menear stepped down from that role. [7], In January 2022, The Home Depot announced he would be stepping down as the CEO and President effective March 1, 2022 while continuing to serve as the chairman of the board. Richard Mcvey: age, children, first wife, height, career, profile, worth. 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. 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? In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. The company's statement didn't give a reason for Menear's retirement. The company has significantly boosted its operating margin by shrewdly allocating capital and keeping store expansion spending at reasonable levels. Join the Brooksy Society by subscribing to our Monthly Newsletter! However, these actions were met with backlash from the public. Craig Menear Political Contributions in 2020. Get this delivered to your inbox, and more info about our products and services. The company itself used to be involved in sports science but these days, its making a significant move toward healthcare. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Decker, who has . Age : 63. According to Bizjournals, he made a total of $10,889,833 in 2019 and $13,995,092 from the year after. Access your favorite topics in a personalized feed while you're on the go. Family Life. The question is not merely academic, as decisions made about the economic future of the country could reflect the interests of those appointed to the council. "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 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. In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Learn how your comment data is processed. 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. You could say that Menear has had a love for home improvement instilled in his blood from a young age. And when it comes to political contributions, Home Depot and Lowe's both happen to reflect the conservative tendencies of many prominent retailers. Over the course of 11 years, the ex-Home Depot executive gave the Atlanta-based chain's namesake PAC a total of $8,100. 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. Menear has donated to the Home Depot Political Action Committee over the years. The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. . "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. . [1][2] His father worked as a tool and die maker for General Motors. 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. He attended the local high school in his area before expanding his horizons after college, and learning the ropes of his now popular industry. Menear has donated to the Home Depot Political Action Committee over the years. 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. Craig Menear resides near The Home Depot headquarters, which are located in Atlanta, Georgia. on: function(evt, cb) { 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 . Coca-Cola ultimately issued a carefully worded statement saying that "voting is a foundational right in America" and pledging to "work to advance voting rights and access in Georgia and . 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. References This . Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. As a result, The Home Depot sought to distance itself from the statement. 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. But how did he come to run the company in the first place? In 2006, Home Depot brought on Office Depot logistics veteran Mark Holifield as senior vice president of Supply Chain. Through his able leadership, the company has grown significantly. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. Download all contribution records for this person. There are several fast food restaurants that have expanded over the past few years and should continue to grow over the next year. 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. His father was a tool and die maker at Flint General Motors. In addition to naming Home Depot CEO Craig Menear to its list, the White House also listed Home Depot co-founders Bernie Marcus and Ken Langone.Both of those billionaires no longer work for the home improvement company, but they are major Republican donors. Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . Menear began working at Home Depot in 1997. 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. 2. I remember that. Craig Menear tries to be on the store floor of a Home Depot almost every week. A persistent Spartan, hed drive the aging aforementioned vehicle to and fro the college campus where he slogged his way through two years of math and statistics that didnt come easy. Teddy W Solomon says: April 4, 2021 at 5:19 pm. They outrank your supervisor. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. (function() { But is Home Depot really a conservative company? Among other initiatives, they plan on adding 170 distribution facilities across America to reach 90% of the U.S. population in one day or less, moreover, another goal is to open hubs that will consolidate the freight for dispatch on to final-mile delivery vehicles appliances for Interline MRO, Pro, and do it yourself (DIY) hobbyists delivery from DFCs, vendors, and stores, in about 100 locations. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. Logistics is huge, and if you step back to just twelve years ago, our business has changed pretty dramatically [since then], he explained at a 2018 Michigan leadership summit. I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. Has Been Known As The Darling Of Wall Street, 7. 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. Bernie M. As Craig Menear put it: that was a significant improvement compared to double-digit declines in previous quarters in 2009. He attributed the improvement to consumers snapping up values in Home Depots appliances, water heaters, and windows categories. Menear graduated from Michigan State University College of Business with a bachelor's degree back in 1979. Mr Menear, getting involved in political statements. Craig Menear (born c. 1958) is an American business executive. The new CEO will be Craig Menear, Atlanta-based Home Depot announced Thursday after the stock market closed. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. Have you ever looked at a company or brand and wondered who runs the show? "His ability to blend the art and science of retail is exactly what is needed in the next phase of growth for The Home Depot," Menear said in a news release. "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. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. Brian is currently a news anchor of The 11th Hour with Brian Williams. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Mr . Sign up for free newsletters and get more CNBC delivered to your inbox. Menear has been the company's chief executive officer and chairman since November 2014, succeeding Frank Blake in these positions. Mr. Decker has been the chief operating officer at the home-improvement retailer since October 2020. Marcus in particular has once again made headlines by vowing to support. They invested about $11 billion in the improvement of . (exechange) Atlanta, Georgia, January 27, 2022 Craig Menear, chief executive of Home Depot, leaves his position. 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. Recent work: Johnson/brooks single family residence - window rpl rmv/rpl 3 windows; no structural changes. 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. Home Depot Inc. Public asset : 66,160,504 USD. 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.. In 2007, he was appointed executive vice president of merchandising. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. He lives with his wife, and the couple also has two daughters. [2] He graduated from Michigan State University's Eli Broad College of Business in 1979. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. "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. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. Decker began as a director of business valuation and served as executive vice president of merchandising before being named chief operating officer and president in October 2020. 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.

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