Got a confidential news tip? Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. 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. Craig Menear has served as president and CEO of the Home Depot since 2014 and chairman since 2015. 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. . Menear has donated to the Home Depot Political Action Committee over the years. Decker, who has . His father worked as a tool and die maker at General Motors. His films have been among the biggest box office hits of all time. 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. Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. 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. 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). 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. As published in the Atlanta Business Chronicle on June 1, 2018In early 2014, three people were in the running to succeed Frank Blake as CEO of The Home Depot Inc. Craig Menear, who eventually . Langone, however, walked back his support of the president and denounced Trump after a mobattackedthe Capitol. Public asset : 66,160,504 USD. "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. 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? 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. Go create a customer-focused culture in a company of 300,000 people, that would have been pretty difficult. 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. Robert N. Fried: age, children, spouse, movies, house, profiles, net worth. 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 . Over the course of 11 years, the ex-Home Depot executive gave the Atlanta-based chain's namesake PAC a total of $8,100. 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. 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. The Center for Responsive Politics found that in the year 2020, donations in the retail sphere have been more even across the political spectrum than usual. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The founding team at Home Depot longtime home improvement executives Bernie Marcus and Arthur Blank, investor Ken Langone, and merchandising expert Pat Farrah. Political Action Committee, the . Get this delivered to your inbox, and more info about our products and services. During Blakes tenure, Home Depots stock rose more than 100%, by the end, they were operating the worlds largest home improvement specialty retailer, with 2,265 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, and Mexico. Craig Menear has served as CEO and President of The Home Depot since November 2014 and Chairman since February 2015. Have you ever looked at a company or brand and wondered who runs the show? President Trump's 'opening the country' council features several political donors and supporters . Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . After completing his university studies, the American businessman got into work at several retailers. In 2021, the company had 490,600 employees and more than $151 billion in revenue. Answer (1 of 47): I have stopped shopping at Home Depot and I greatly regret the many tens of thousands of dollars I have spent there in the past. 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? Home Depot founders and Republican mega-donors Ken Langone and Bernie Marcus have attracted controversy over their donations to Republican groups and politicians, including US President Donald Trump. But a job interview he booked for practice ignited his passion for the always-evolving, people-centered retail industry. Craig Menear Political Contributions in 2020. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. There are several fast food restaurants that have expanded over the past few years and should continue to grow over the next year. Palmer's real estate firm G.H. Menear, 57, has been president of the company's U.S. retail operations since February . Menear was named to Trump's Great American Economic Revival advisory group for retail earlier this year U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. 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. (function() { Read more here! Fifty-one percent of Trump's billionaire donors did not give to the president's 2016 campaign. callback: cb Account will be deleted and I will shop at Lowes! Before joining The Home Depot in 1997, Craig served in various roles with retailers such as IKEA, Builders Emporium, Grace Home. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to Democratic candidates . 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. His own father was a tool and die maker that worked at GM for forty-one years, and on the few off days to be had, the working-class man often recruited the help of his son for strenuous home improvement projects; perhaps Craig enjoyed these early boyhood do-it-yourself construction tasks, considering the billion-dollar company hed ultimately helm. "It's bizarre to me that there's nobody representing public health," Virginia Canter, chief ethics counsel at Washington-based advocacy group Citizens for Responsibility and Ethics in Washington, told ABC News. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. 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. Updated April 6, 2015 6:34 pm ET. This net worth approximation does not reflect any other investments that Mr. Menear may own. As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. Craig Menear in Washington | Photos | Reviews | 18 building permits. Dealing a further blow to internal morale, he also increased the number of less knowledgeable part-time workers at Home Depots stores, which left full-time employees fuming and led to a diminishment of customer service, one of the companys strengths, recounted Barry Henderson, an equities expert at T. Rowe Price. Menear said 98 words. Retail, among the industries hit hardest by the pandemic, received significant representation. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. In 2018, the committee donated $1,320,320 to Republican federal candidates and $742,680 to . That relentless work ethic the future executive displayed must have had something to do with the rugged midwestern upbringing he experienced, after all, his father frequently battered him with the mantra, if youre going to do something, do it 110%, or dont do it at all.. In fiscal 2013, the company reached sales of $78.8 billion and earnings of $5.4 billion. Digital sales rose 80% year over year, furthermore, customers picked up about 60% of those orders at a physical store. 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 . Craig Menear Connected to: {{::readMoreArticle.title}} De Wikipedia, la enciclopedia libre. [3], Menear was educated at the Flint Central High School, graduating in 1975. Tune into ABC at 1 p.m. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Both have become outspoken and prolific donors to Republican causes and candidates since retiring from the retailer decades ago. The culture was always here, he retrospectively told Institutional Investor in a 2011 interview. 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. A Home Depot store is seen in Washington, DC, on August 18, 2020. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. 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. I couldnt do this without her, he humbly admitted to the Atlanta Business Chronicle in 2018. Sign up for free newsletters and get more CNBC delivered to your inbox. 6. Sign up for free newsletters and get more CNBC delivered to your inbox. Craig Menear got hired by The Home Depot in 1997 as a divisional merchandise manager for the southwest division. If somebody had said, Okay, Frank, here blank sheet of paper. You have to stay focused on the customers needs and when you lose that focus, bad things happen. What are the admission requirements to study medicine at UCT 2022? Mr. Arpey has been a partner in Emerald Creek Group, LLC, a private equity firm based in Southern California, since 2012. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. Access your favorite topics in a personalized feed while you're on the go. He attended Flint Central High School. Craig Menear politics. Menear graduated from Michigan State University College of Business with a bachelors degree back in 1979. 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. Got a confidential news tip? The show airs every weeknight at 11 pm Eastern Time on MSNBC. "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 . 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. 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. 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! 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. ET every weekday for special coverage of the novel coronavirus with the full ABC News team, including the latest news, context and analysis. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Home Depot CEO Craig, age 63, was born in Flint, Michigan in around 1958. 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. 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. Speaking to Atlanta Business Article, Craig mentioned that he met his wife in Michigan, his home state. 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. References This . I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. Through his knowledge of restructuring the company for ultimate profitability, the company has exceeded many expectations, and should continue to do so throughout the coming years as well. Craig Menear is the Chairman of the Board. 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 is Lowe's its liberal counterpart? Atlanta-based Home Depot is a major political player in Georgia. There's a video about it on MyApron and probably on loop in your break room too. Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. Their status as retirees has not stopped outraged social media users from encouraging left-leaning shoppers to spend their cash at Lowe's instead.
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