ATLANTA, Jan. 27, 2022 - The Home Depot , the world's largest home improvement retailer, today announced that Edward "Ted" Decker has been named CEO and president, and has been elected to the company's board of directors, all effective March 1, 2022.Craig Menear, currently chairman and CEO, will continue to serve as Chair of the Board. Edward "Ted" Decker, who has served as Home Depot's chief operating officer since October 2020, will become president and CEO on March 1. The Home Depot on Thursday named a veteran executive as its new CEO. Frank Blake has been Home Depot's chairman and CEO . 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. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. 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. 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. In 2019, Marcus said he would donate a portion of his billions to the president's re-election campaign. Coca-Cola C.E.O.: Voting Rights Advocate? - The New York Times Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Together, they worked on several home improvement projects. 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. In his more than 20 ye ars with the company, he has held roles spanning merchandising, supply chain, store operations, sourcing, marketing and online. Thats right. 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. 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. Search. Its co-founder Bernie Marcus also publicly endorsed Trump urging other people to do so. Youve always got to be aware of what youre competing against but weve learned this the hard way, laments Menear. He serves as the chairman and is the former chief executive officer of The Home Depot. Craig Menear's salary of $1.3 million has remained unchanged since his appointment to the position of CEO and President. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. 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. Home Depot says Craig Menear, the president of its U.S. retail operations, will become president and CEO of the company Nov. 1.. Frank Blake has been Home Depot's chairman and CEO since 2007, and . Home Depot CEO Ted Decker to replace retiring Craig Menear as chair - CNBC Earlier this month, a memo from the office of Florida Gov. [8], Menear is a donor to his alma mater, Michigan State University. Speaking to Atlanta Business Article, Craig mentioned that he met his wife in Michigan, his home state. 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. In 2017, Michigan State University honoured him with the Distinguished Alumni Awards for his accomplishments in business and his commitment to philanthropic activities. 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. 2020 Transaction Count/Amount. Both public and private colleges are competing for a limited number of students. Home Depot picks veteran Ted Decker as new CEO | CNN Business Palmer's real estate firm G.H. This net worth approximation does not reflect any other investments that Mr. Menear may own. 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. Altogether, Lowe's leadership has been less overtly political in their spending than the Home Depot executive team. Craig Menear | WA | Read Reviews + Get a Free Estimate | BuildZoom Craig Menear is the Chairman of the Board. 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. } Menear has donated to the Home Depot Political Action Committee over the years. Hell do an outstanding job leading our company in the years ahead.. Sites and apps where to download Afrikaans movies, Top facts: The biggest dams in South Africa, Video of Zamani Mbatha apologising to Snikiwe Mhlongo after cheating scandal goes viral on social media, Who is Kim Fields's dad Erv Hurd? Home Depot names Craig Menear new CEO starting Nov. 1Boycott Home Depot (Co-founder supports Trump) | MoveOn Craig is related to Danielle Menear and Courtney Ann Menear as well as 1 additional person. Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. A Home Depot store is seen in Washington, DC, on August 18, 2020. Depot Chief Executive Officer Craig Menear and another co-founder Ken Langone, who has given . 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. A Division of NBCUniversal. Craig A. Menear: CEO Pay $13,059,751: Median Employee Pay $28,697: CEO Pay Ratio 455:1: Board of Directors in HOME DEPOT INC. For its 2021 fiscal year, HOME DEPOT INC, listed the following board members on its annual proxy statement to the SEC. [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. 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. "And you do have to question whether some of these people would have been included if they weren't major financial supporters of the president and his party.". He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. Contrary to popular belief, Craig Menear has worked with various other retailers within the same genre of industry throughout his career. Home Depot CEO Craig, age 63, was born in Flint, Michigan in around 1958. 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As political donors, current Home Depot CEO Craig Menear and Lowe's CEO Marvin Ellison diverge in a number of key ways. Craig Menear - L'ATTITUDE 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. Rapidly putting his know-how to work, the young man from Flint climbed his way up from divisional merchandise manager for the southwest division to senior vice president of merchandising for hardlines by 2003. I could have spent all that money at locally owned businesses that do not support fat blimp-like despicable proto-fascist dictator assholes. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. The pair has given $470,300 this year, with 99% of that money going to Republican candidates. 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. But is Home Depot really a conservative company? He serves as the chairman and is the former chief executive officer of The Home Depot. They have also lived in Monrovia, CA and Kingston, TN. Craig brings decades of product, supply chain, online and marketing expertise to his role during a time when the retail landscape is rapidly changing. 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. Craig Menear is chairman, CEO and president of The Home Depot. READ ALSO: Brian Williams bio: age, daughter, wife, education, career, salary, net worth. HOME DEPOT INC Executive Salaries & Other Compensation - Salary.comHere Are The Billionaires Backing Donald Trump's Campaign, As Of He is one of the legendary news anchors in America today. The Home Depot's (HD) CEO Craig Menear on Alliance - SeekingAlpha Decker took over as CEO in March, when Menear stepped down from that role. Home Depots stock value dropped 8% by the time Nardelli was exiled by the companys board in 2007, for comparison, during that time, Lowes shares soared some 180%. 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. The company currently has around 2200 stores and 400,000 associates. You are already subscribed to our newsletter! Teddy W Solomon says: April 4, 2021 at 5:19 pm. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. Even prior to the global health crisis, Home Depot was making significant investments in its supply chain and e-commerce business. Atlanta, GA, US View. Sign up for free newsletters and get more CNBC delivered to your inbox. You could say that Menear has had a love for home improvement instilled in his blood from a young age. Home Depot CEO Craig Menear's Life and Career - Business Insider You have to stay focused on the customers needs and when you lose that focus, bad things happen. 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 . Got a confidential news tip? This site uses Akismet to reduce spam. 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. Learn how your comment data is processed. Linda McMahon, who was previously the Trump administrations small business administrator, is now leading pro-Trump super PAC America First Action. Outgoing CEO Menear said Decker, a 22-year Home Depot veteran, is the right person to take the helm during a period of growth. 6. Dean's CEO Speaker Series: Craig Menear, Chairman and CEO, The Home Download all contribution records for this person. Decker took over as CEO in March, when Menear stepped down from that role. 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 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. [4] He previously worked for Builders Emporium and was a distribution manager for IKEA prior to working for Home Depot. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. 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. Pay for Home Depot's Craig Menear Totaled $10.2 Million Last Year In January 2022, The Home Depot announced that he would step . Craig Menear. Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. Brian is currently a news anchor of The 11th Hour with Brian Williams. 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. His first job was at Montgomery Ward, a department store chain. 24/7 coverage of breaking news and live events. In more than 20 years with the company prior to becoming CEO, his work included merchandising, supply chain, store operations, and marketing. If somebody had said, Okay, Frank, here blank sheet of paper. In 2020, the Center for Responsive Politics listed the investor and his wife Elaine as two of the top hard money individual contributors. There's a video about it on MyApron and probably on loop in your break room too. Learn More about Craig A. Menear's net worth. Shares of the company were effectively flat after hours. Craig Menear - Chairman, Chief Executive Officer and President.