Meaner will be the successor of Blake for Home DepotMd Noman Siddique (Author) Published Date : Aug 23, 2014 04:09 ET
Craig Menear will be the successor of Frank Blake as the Chief Executive of Home Depot which will be made after two months as the firm has been in the slower side recently.
According to the firm the move will be applied from November 1 where they also informed through a statement, Blake, 65, has been CEO since 2007 and will remain chairman. Menear, who s been with the chain since 1997, will join him on the board immediately.
One of the largest chain in home improvement has been in the positive side of business during the last five years in a row after the housing market in US has been recovering where the interest of renovating their house from the homeowners is increasing.
Recently the second quarter earnings of the firm showed the highest earnings which was earlier estimated by the analysts will be looking to continue its growth however the high interest rates may give some low times in the upcoming times.
According to Jaime Katz, an analyst from Chicago, It won t be a difficult transition because of the knowledge he s accumulated with his time at the firm, he s well positioned to take over the role. They re going with someone who has grown up with the business.
Home Depot shares have gained eleven percent this year and have been in positive trend for some time however the share price of the firm did fell to 0.1 percent on the early trading on Friday.
The successor of Blake Menear has the huge experience of 34 years in the retail sector and he was also the executive vice president of merchandising for the firm and it was informed earlier that Menear the 57 year old will be the successor of Blake.
Meaner will be the successor of Blake for Home Depot