Company Snapshot: Home Depot’s Next Generation
2455 Paces Ferry Rd NW
Atlanta, GA 30339-1834
Current Total Store Count
Total Annual Sales
Craig A. Menear- Chairman, CEO
Since January 2007, the only executive that needed to be listed for a Home Depot snapshot was Francis S Blake, who served as both Chairman and CEO from that time. Mr. Blake’s vision and decisiveness led the company’s dramatic turnaround from a company which had seemingly left the roots its creators had established at the company’s founding. Prior to Mr. Blake’s assuming the corporate reins, the company had fallen greatly out of favor with both consumers and investors.
Under Mr. Blake’s leadership, Home Depot recovered its position as the industry’s financial and innovative darling. Recently, Mr. Blake retired from Home Depot. During the past several months, the company has lost two other very key executives.
Late last year Home Depot announced that its Executive VP of U.S. Stores, Marvin Ellison, was leaving the company to take over as CEO for J.C. Penney. In addition to accepting the temptation of a base salary of $1.3 million, Mr. Ellison was rewarded with a $4 million signing bonus by Penney.
Recently, Home Depot’s Senior VP of Merchandising, Hal Lawton, accepted a position at eBay where he will head North American operations. Mr. Lawton had been a key executive in leading Home Depot’s many recent and soon-to-appear innovations on its boldly growing, innovative website.
Mr. Lawton’s departure has led to several internal promotions within the Depot. The prominent departure of a longtime company veteran leader, such as Mr. Ellison, is never easily replaced.
Frank Blake was extremely savvy in his moves to restore Home Depot to its historically prominent place. His lieutenants were carefully handpicked. It is likely his chosen replacement has been set up for success, despite the loss of considerable executive talents.