The Home Depot has announced that Craig Menear, currently president, U.S. retail, has been named CEO and president, effective November 1, 2014, and has been elected to the company’s board of directors, effectively immediately. Current chairman and CEO Frank Blake will remain chairman.
Menear, who was named president, U.S. retail in February of this year, is a 34-year retail veteran. In addition to his role as chief merchant, Menear has overseen the company’s supply chain efforts, its rapidly growing online and private brand businesses and the company’s marketing and global sourcing.
“Craig has taken on increasing leadership responsibility over the last several years and has excelled in all his roles,” said Blake. “As a long-time Home Depot veteran, Craig lives our values and embodies our culture. He’ll do an outstanding job leading our company in the years ahead.”
Blake has been chairman and CEO of The Home Depot since 2007.
“On behalf of the board, I want to thank Frank for the job he has done over the last seven years,” said Greg Brenneman, the board’s lead director. “Among his many accomplishments, Frank has built a world-class leadership team. We are fortunate to have a leader of Craig’s capabilities as our new CEO.”