craig menear politics

According to Bizjournals, he made a total of $10,889,833 in 2019 and $13,995,092 from the year after. But how did he come to run the company in the first place? Ellison, on the other hand, has never donated to the Lowe's Companies, Inc. 2. 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. He is on the Board of Directors at Retail Industry Leaders . Craig A Menear is Former Chairman/CEO at Home Depot Inc. See Craig A Menear's compensation, career history, education, & memberships. In the 2020 elections, he allegedly donated The Home Depot profits to former US President Donald Trump's campaign. A Home Depot store is seen in Washington, DC, on August 18, 2020. "As a long-time Home Depot veteran, Craig lives our . Home Depot has named CEO Ted Decker as the chair of the board, the company announced Thursday. Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's and explains which retailer has the edge. Craig Menear (born c.1958) is an American business executive. [1][2] His father worked as a tool and die maker for General Motors. Before making his way to The Home Depot, he worked for other independent construction retailers, and other companies (such as Ikea), where he learned the ropes in terms of online sales, marketing, and other business assets. 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. 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. Philanthropist Chief Executive Officer of Las Vegas Sands Sheldon Adelson listens to President Donald Trump address to the Israeli American Council National Summit 2019 at the Diplomat Beach Resort in Hollywood, Fla., Dec. 7, 2019. Mr. Craig A. Menear is a Chairman & Chief Executive Officer at The Home Depot, Inc. and a Chairman at The Home Depot Foundation. Country of residence : Unknown. Under his leadership, the company continues to . 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. 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. Decker took over as CEO in . Home Depot is the largest home improvement retailer in the United States. The Northern Nevada Business Weekly reported in 2014 that the Home Depot cofounder had moved to the Lake Tahoe area. This site uses Akismet to reduce spam. 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. Like other CEOs, Craig has been vocal about his political stand in the US elections. 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. 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. In total, ABC News identified at least 25 individuals appointed to the advisory council who have made substantial donations to his political campaigns or to outside groups supporting his presidency, raising concerns among prominent ethics watchdogs. 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. He's spent the vast majority of his career dealing with complex logistics, the expectations of builders and home . In 2007 he was appointed to Executive Vice President of Merchandising, a position that hed flourish in for 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. 2. Home Depot Inc. said Craig Menear, who took over as chief executive in November, received total compensation last year that was valued at $10.2 million. He replaces former CEO Craig Menear, who will retire as chair Sept. 30. Little did they know, Blakes selfless leadership style would be exactly what The Home Depot needed to mend soar wounds. 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. Joe Schildhorn/Patrick McMullan via Getty Image, Do Not Sell or Share My Personal Information. In 2020, the Center for Responsive Politics listed the investor and his wife Elaine as two of the top hard money individual contributors. 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? 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. He will be replacing Craig Menear, who has been . 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. ); Despite Langone and Marcus' high-profile conservative giving, Home Depot's PAC has consistently been more Democrat-friendly than that of its rival. By DEE-ANN DURBIN January 27, 2022. That makes a difference, believes Frank Blake. 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. He has also served as a Chairman for the company since 2015. To a Spreadsheet or Other File Type. Craig Menear. In his role as a news anchor, he has covered more than 300 hours of live, breaking news coverage, including the 2016 presidential campaign and events around the world. 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. 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. on: function(evt, cb) { It seems that there really is no stopping Craig Menear, and his attempts to make the company all about the customer. 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. All Rights Reserved. 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). Adelson dropped a $5 million check to the president's inaugural committee in 2017 and has given $15 million to Trump-aligned super PACs. } In addition, he makes $10,889,800 as Chairman of the Board i Chief Executive Officer at Home Depot. As a long-time Home Depot veteran, Craig lives our values and embodies our culture. After completing his university studies, the American businessman got into work at several retailers. "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 . But a modicum of political change may be at hand for both retailers in the coming election cycle. [2] Succeeding Frank Blake in these roles, Menear has served as its chief executive officer since November 2014,[2] and as its chairman since February 2015. How it started and how to protect yourself: Tracking the spread in the US and Worldwide. People like Geoffrey Palmer, a colorful California real estate developer who plays professional polo and owns multimillion-dollar mansions in Beverly Hills, Malibu and Aspen, will join the councils "Construction/Labor/Workforce" group, alongside leaders from major unions, including AFL-CIO, International Brotherhood of Teamsters, and Laborers International Union of North America. Langone has frequently expressed support for US President Donald Trump in media appearances, as has Marcus. forms: { Learn More about Craig A. Menear's net worth. 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. Home Depot has seen tremendous growth during the pandemic, as nesting trends and a strong housing market inspired Americans to invest in their homes or move to bigger places. Both have vocalized consistent support for US President Donald Trump. He became president and COO in October 2020. His first job was at Montgomery Ward, a department store chain. Despite being the older company, the original movers-and-shakers of Lowe's never achieved the same high-profile or politicized status in the business world as their orange-aproned counterparts. Will Record Tuition Deductions Help Private Colleges? Needless to say, Menear inherited a fairly advantageous situation when compared to the circumstances his predecessor encountered. . Menear began working at Home Depot in 1997. In 2016, the organization gave only 13% of its $448,750 expenditure to Democrats. Craig Menear is the Chairman of the Board. Before joining The Home Depot in 1997, Craig served in various roles with retailers such as IKEA, Builders Emporium, Grace Home. [6] He was given $11.5 million in 2016. Craig Menear. 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. Palmer Associates and Ruffin's spokesperson declined to comment when reached by ABC News. The retailer's current CEO, Craig Menear, 64, will continue to serve as chair of the board. And so far in the 2020 election cycle, the PAC has also given $250,000 to the Congressional Black Caucus PAC and its members. ET and ABC News Live at 4 p.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. Sign up for notifications from Insider! This net worth approximation does not reflect any other investments that Mr. Menear may own. Political Campaign Contributions. The Home Depot CEO has clearly shown his able leadership, and since his take over, the company has been on the rise. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. 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. 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 . 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. 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. Have you ever looked at a company or brand and wondered who runs the show? 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. References This . You could say that Menear has had a love for home improvement instilled in his blood from a young age. 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. They all have backlogs. In order to best position themselves for this rush in Pro sales, Craig Menear and company have continued streamlining their delivery process, outfitting it to handle larger orders,while also ensuring they have stocked up on as much inventory as possible. Besides, he has amassed over 117,327 units of Home depot stock in his name, which cost over $58,711,831. Craig Menear is an inspiration to all the upcoming businesspersons. Top editors give you the stories you want delivered right to your inbox each weekday. Has Worked For More Than Just The Home Depot. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. [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. Home Depot Inc on Thursday named 22-year company veteran Edward Ted Decker as its new chief executive officer and president, replacing Craig Menear, who will continue as chairman. Palmer's real estate firm G.H. Get this delivered to your inbox, and more info about our products and services. 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. Craig Menear politics. Turn on desktop notifications for breaking stories about interest? In 2020, Home Depot has spent $1,495,000, giving 44% of that money Democratic politicians and 56% to Republicans. You can help Wikipedia by expanding it. He's worked at the company since 1997, steadily rising through different leadership roles before becoming CEO in 2014. Adelson did not respond to a request for comment. Since then, he has become a regular donor to his alma mater throughout the years. His films have been among the biggest box office hits of all time. 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. Through his hard work and consistency, he has ensured that he remains on top of the game throughout most aspects in life. With over 10 years experience he's covered businesses, CEOs, and investments. While glancing at his 13 years company's stock transaction . Prior to that, Menear had been the company's chief executive since 2014. Home Depot names new CEO, Ted Decker, who will start March 1, Chartmaster on what to do with the Home Depot/Costco trade. He serves as the chairman and is the former chief executive officer of The Home Depot. That makes up around 9% of the PAC's current cycle to-date disbursements. Sign up for free newsletters and get more CNBC delivered to your inbox. People go: Got it. In 2016, he received $11.5 million. Fifty-one percent of Trump's billionaire donors did not give to the president's 2016 campaign. Got a confidential news tip? 2020 Transaction Count/Amount. I couldnt do this without her, he humbly admitted to the Atlanta Business Chronicle in 2018. The company currently has around 2200 stores and 400,000 associates. Pete Davidson's net worth, age, girlfriend, education, tattoos, parents, profiles. 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. Enjoy our content? 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. Following publication of this report, White House deputy press secretary Judd Deere issued a brief statement to ABC News. Mr Menear, getting involved in political statements. Craig was named CEO and president in November 2014 and chairman in February 2015. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. The next item for consideration is the shareholder proposal regarding the preparation of a semi-annual report for political . 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. Transactions of nine hundred dollars or more, which represent around 20% of Home Depots sales in the United States, began stabilizing by the start of 2010. Menear, 57, has been president of the company's U.S. retail operations since February . U-Haul billionaire E. Joe Shoen made his first-ever contribution to Trump Victory, $35,500, in . In fact, the CEO is considered a multi-millionaire, making roughly around $11 million annually (with increases each year). Altogether, Lowe's leadership has been less overtly political in their spending than the Home Depot executive team. As announced by Home Depot Inc. in a news release and in a regulatory filing published on Thursday, January 27, 2022, Craig A. Menear leaves his post as chief executive officer at the world's largest . Net sales increased 44 percent to $108.5 billion in the first quarter, after already increasing 38 percent to $386.1 billion during the full year of 2020. Craig Menear (born c. 1958) is an American business executive. His father worked as a tool and die maker at General Motors. 6. "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. Craig Menear Wiki - Age, Wife, Family, & More. Long before he got named The Home Depot CEO, Craig Menear was born in 1958 and raised among the bustling automobile manufacturing factories of Flint Michigan, a blue-collar town that once boasted some nine General Motors (GM) plants. 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. Between the day Craig Menear was made chief executive in 2014 and December 2017, The Home Depots single share value increased from roughly $92 to $192, at which point, the company revealed a plan to invest north of $11 billion to position itself as One Home Depot.. Craig Menear, who was tabbed CEO in November 2014, will continue as the company's chairman. 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. "As a 22-year associate of The Home Depot, Ted . 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. There are many companies that often make us ponder, one of which being The Home Depot, and its successful CEO, Craig Menear. The numbers show that home improvement retailers have set up PACs that have predominantly donated to Republican federal candidates, like most large retailers. In 2020, the breakdown for Lowe's' PAC's $602,000 was 25% to Democrats and 75% to Republicans. including in the most recent fiscal quarter, was making significant investments in its supply chain and e-commerce business. Outgoing CEO Craig Menear will continue to serve as chair of the board. 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. 2023 CNBC LLC. 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 was born and raised in Flint, Michigan to his family back in 1958. Craig Menear in Washington | Photos | Reviews | 18 building permits. { 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. With the exception of Ellison, the top brass at both home improvement giants largely favor donating to their employer's designated PAC, as well as the occasional specific politician or campaign. 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.

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