Headlines

Home Depot Names New Retail President

Craig Menear seen as likely successor to Frank Blake

Published

10 years ago

March 4, 2014

steve kaufman

Home Depot Inc. (Atlanta) has named Craig Menear to be its U.S. retail president, which is believed to be the beginning of a transfer of power at he country's fourth-largest retailer.

Frank Blake has been Home Depot’s ceo since 2007 and, at 64, hasn't set a retirement date. But the Wall Street Journal quotes a source saying “a succession plan is under way.”

Mr. Menear, joined Home Depot in 1997 as a manager in the company's Southwest division. He had most recently been head of merchandising, responsible for the selection and pricing of products, supply chain, vendors and online operations.

Marvin Ellison, Home Depot’s head of U.S. stores, will now report to Menear instead of to Blake. Menear, Ellison, and cfo Carol Tomé were all considered possible successors to Blake. The company said Tomé will remain as cfo.

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