Content about Frank Blake

Playing with an extra week in its calendar, Atlanta-based Home Depot’s fourth-quarter sales increased 13.9% to $18.2 billion, as the company’s comps increased 7.1%.

The company posted net earnings of $1.0 billion in the fourth quarter, up 31.9% compared with last year’s fourth quarter. 

Home Depot chairman and CEO Frank Blake addressed the Virginia Commonwealth University School of Business on Oct. 25, joined by his son, Home Depot district manager Frank Blake Jr., who also serves as an adjunct professor in the School of Business' Executive M.B.A. Program. The senior Blake spoke as part of the business speaker series at the Charles G. Thalhimer Family Executive-in-Residence program.

An article in the Wall Street Journal reinforced the notions that many shoppers have always held about the nation’s leading home-improvement retailers: one caters to women, and the other prefers a gender neutral atmosphere. 

The Home Depot named Teresa Wynn Roseborough executive VP, general counsel and corporate secretary. She will join the company’s senior leadership team and report to Frank Blake, chairman and CEO. 

Roseborough will be responsible for leading The Home Depot’s legal department, as well as its government relations and corporate security services functions. She will assume her new role Nov. 7. 

The question-and-answer session is often the most entertaining segment of a shareholders meeting. Case in point, Home Depot’s June 2 meeting brought a half hour of free-wheeling comments from the floor. Below are just some of the questions (abbreviated and paraphrased) and actual excerpts from chairman and CEO Frank Blake’s always-polite responses. 


Question: Why do you continue to sell glue traps?


Frank Blake: “One of the things we try to do is provide our customers with a number of different alternatives.” 


Four Joplin, Mo., associates of a Home Depot store destroyed by a tornado May 22 were flown to Atlanta for the company's annual shareholders meeting. 

CEO Frank Blake introduced Jason Smith, the manager on duty the night of the storm, Joe Barbosa, Joe Cabalero and Steve Cope, the store's manager. The four men received extended applause as well as Angel Awards, given to associates who help save lives. 

Responding to what he described as one of the most destructive spring-weather spells in history, Home Depot CEO Frank Blake said the retailer is helping communities recover.

The Home Depot Foundation is donating $250,000 to the American Red Cross for immediate relief needs in response to last week's tornadoes and storms that caused serious damage throughout the Southeast. 

According to an Atlanta Journal-Constitution article, Home Depot executives received increases in compensation after the company's first annual sales gain in several years. 

CEO Frank Blake earned about $10.5 million last year, up by about $500,000, according to the article. Compensation packages of other top executives rose $100,000 or more.

The Home Depot announced that Bill Lennie has been named president, The Home Depot Canada, effective immediately. Lennie will replace Aaron Carmack, who is taking an extended leave of absence to attend to a personal illness. 

"We are fortunate to have an executive with Bill's experience and leadership abilities who can quickly step into this critical role," said Frank Blake, chairman and CEO. "We wish Aaron the best and look forward to his return."

Carmack will assume a different leadership role within the organization when he returns. 

After completing its build-out of 19 Rapid Deployment Centers (RDCs), Home Depot now faces opportunities to make them better, said CEO Frank Blake.

Speaking during the company's fourth-quarter earnings conference, Blake said the milestone completes the RDC build-out, "at least for the next several years."

Blake described the restructuring as an "enormous undertaking," and credited Mark Holifield and his supply chain team.  

The Home Depot, the world's largest home improvement retailer, announced that Aaron Carmack, regional VP for the Pacific North region, has been promoted to president, Home Depot Canada, effective Jan. 31. 

Carmack is replacing Annette Verschuren, who is leaving the company after nearly 15 years of service.

Most question-and-answer segments of earnings calls have a signature exchange that deserves to make the highlight reel on the 10 p.m. news.

From the recent Home Depot conference—the one during which the company reported upticks in sales and earnings for its third quarter—included the following:

Analyst: “Are there other types of opportunities outside of the core stores that would make sense to you?”

CEO Frank Blake: “We are focused on our core business.”