- Push-out Score determined
- After around seven years in the position
- Praise and thanks for Menear
- Ted Decker taking over
- Menear will remain as Chair of the Board at Home Depot
- Menear said 98 words
(exechange) — Atlanta, Georgia, January 27, 2022 — Craig Menear, chief executive of Home Depot, leaves his position. 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 home improvement retailer, after around seven years in the role, effective March 1, 2022.
Craig Menear’s duties as CEO will be taken over by Edward P. (Ted) Decker, currently president and chief operating officer at Home Depot Inc.
“Blend the art and science of retail”
Home Depot did not give an explicit reason for Craig Menear’s departure from the CEO post. Menear said that Ted Decker’s “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 will remain as Chair of the Board at Home Depot
“Craig Menear, currently chairman and CEO, will continue to serve as Chair of the Board,” Home Depot said.
“Step down”
Home Depot said: “Current Chairman and CEO Craig A. Menear will step down from the CEO position, effective March 1, 2022, and remain as Chair of the Board of Directors.”
Share price increase since November 2014
The announcement follows an increase in Home Depot Inc.’s share price of 272% since November 2014. November 2014 is the month in which Menear’s tenure as CEO began.
In the position of CEO since 2014
Craig Menear became CEO of the Company in 2014.
Menear has served as the Company’s Chief Executive Officer since November 2014 and the Company’s Chairman since February 2015.
He also served as the Company’s President from November 2014 to October 2020.
He previously served as the Company’s President, U.S. Retail from February 2014 to October 2014.
In that role Menear was responsible for oversight of store operations and all merchandising departments, services and strategy; the Company’s supply chain network and global sourcing and vendor management programs; and the Company’s marketing and online business activities.
From 2007 to February 2014, Menear served as the Company’s Executive Vice President – Merchandising, where he led the Company’s merchandising and supply chain transformations.
From 2003 to 2007, he served as Senior Vice President – Merchandising, and from 1997 to 2003, he held positions of increasing responsibility in the Company’s Merchandising department, including Merchandising Vice President of Hardware, Merchandising Vice President of the Southwest Division and Divisional Merchandise Manager of the Southwest Division.
Prior to joining the Company in 1997, Menear held various merchandising positions within the retail industry.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Craig Menear’s move on a scale of 0 to 10.
exechange reached out to Home Depot and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 5.2022 ($).