Through his able leadership, the company has grown significantly. In 2020 so far, the Bernard Marcus Family Foundation has donated $680,521 to Republican Congressional candidates. Aug. 17, 2021. Menear was born c.1958 in Flint, Michigan. Craig Menear - Chairman, Chief Executive Officer and President. Since public colleges are supported by the taxes of the people who live in the local regions, the tuition for public colleges, Read More Will Record Tuition Deductions Help Private Colleges?Continue, Joe Bob Perkins is the CEO of Targa Resources. 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. . Get this delivered to your inbox, and more info about our products and services. Home Depot Inc. In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. 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! Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. Reply. But is Home Depot really a conservative company? Contribution Totals. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. With the $11 billion investment, we told our investors well actually produce an ROIC north of 40.. 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. With over 10 years experience he's covered businesses, CEOs, and investments. 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. 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.. They outrank your supervisor. Garrett by trade is a personal finance freelance writer and journalist. [1][2] His father worked as a tool and die maker for General Motors. Decker took over as CEO in March, when Menear stepped down from that role. 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. 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. "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. 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. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. When it comes to big-name, hyper-partisan donors, Home Depot largely has Lowe's beat. } In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. Visit lattitude.net now! One of the biggest challenges looking ahead manifested in the form of consumer habits shifting, as online sales grew to 4% with no signs of slowing, leadership needed to ponder how best to sell items from barbecue grills and patio sets to actual bricks and mortar over the Internet. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. 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. 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. Quickly connect with Craig before . 2020 Transaction Count/Amount. In 2020, the Center for Responsive Politics listed the investor and his wife Elaine as two of the top hard money individual contributors. 2. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. At least 25 individuals have made substantial donations in support of Trump. He serves as the chairman and is the former chief executive officer of The Home Depot. 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. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. "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 . Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . Current Chairman and CEO Craig Menear will continue to serve as the company's board chairman. 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. Mr. Menear owns 277,604 shares of Home Depot stock worth more than $88,264,192 as of February 21st. 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. 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. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. In 2018, USA Today reported that Menear made $11.6 million in total compensation for his role as Home Depot's chief executive. In 2020, the breakdown for Lowe's' PAC's $602,000 was 25% to Democrats and 75% to Republicans. 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. As a result, The Home Depot sought to distance itself from the statement. 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. Business Insider could not identify any members of the current leadership team who donated to a specific politician while employed at Lowe's. Age : 63. Sign up for free newsletters and get more CNBC delivered to your inbox. You can find out more information about Menear and the work he has put into The Home Depot online. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. In January 2022, The Home Depot announced that he would step . In 2018, 36% of its $2,060,500 contribution went to Democrats, while in 2016 . 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. All Rights Reserved. He worked his way through, and in 2007 he was named the Vice President of Merchandising. Craig Menear Political Contributions in 2020. Starting in 2019, a Nevada voter named Patrick Farrah is listed by the FEC as having donated thousands toward Republican candidates like Lindsey Graham, Mitch McConnell, Kevin McCarthy, and Duncan Hunter, as well as the PAC Bikers for the President. It should be no surprise that Craig Menear has had the success to become a millionaire during his career. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. Corporations have also been active political spenders at the state level. The Home Depot announced late last week that it had appointed Ted Decker as its new chief executive officer. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. Menear has been into entrepreneurship from an early age. Both public and private colleges are competing for a limited number of students. Biography of Craig Menear. "As a 22-year associate of The Home Depot, Ted . 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 . Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. listeners: [], Lets get started. Following publication of this report, White House deputy press secretary Judd Deere issued a brief statement to ABC News. Menear has donated to the Home Depot Political Action Committee over the years. The estimated net worth of Craig A. Menear is at least $88.26 million as of December 13th, 2019. During his childhood, he had a lawn care business with which he bought his first car. In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for seven years. Learn More about Craig A. Menear's net worth. Monday, January 31, 2022 6:11 AM UTC. He has had the role of Chief Executive Officer since 2014. 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. } Craig Menear works as a Board Member Craig graduated from Michigan State University's Eli Broad College of Business and They used to work at Camp Southern Ground and have used the following emails: , @homedepot.com. JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. His films have been among the biggest box office hits of all time. Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. The company currently has around 2200 stores and 400,000 associates. 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.
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