MOORESVILLE, N.C., Jan. 17, 2017 /PRNewswire/ -- Lowe's Companies,
Inc. (NYSE: LOW) today announced that Marshall A. Croom, a 20-year Lowe's veteran, has
been promoted to the position of chief financial officer, effective
March 3. Croom succeeds Robert F. (Bob) Hull Jr., who announced plans to
retire after 17 years with the company. Croom will report to
Robert A. Niblock, Lowe's chairman,
president and CEO. Hull will remain at Lowe's through March
to ensure a smooth transition period.
In his new role, Croom, 56, will oversee accounting, tax,
treasury, investor relations, and financial planning and
analysis. He will also continue to lead internal audit and
enterprise risk management, areas he has managed since 2009.
"Marshall brings over 30 years of financial and operational
experience to his new role and, importantly, possesses a deep
understanding of virtually every facet of Lowe's," Niblock said.
"We have confidence in Marshall's proven leadership as we continue
to focus and invest in the areas that meet consumers' evolving
expectations. We look forward to a smooth transition, given
our CFO succession planning process."
For the past eight years as chief risk officer, Croom had
responsibility for providing oversight and direction for the
management of all material risks across the company, including
enterprise risk management, internal audit, project and process
management, quality assurance, information security, loss
prevention and workers' compensation. Prior to leading the risk
organization, he held several leadership positions in finance,
including senior vice president of finance, treasurer and assistant
treasurer, including responsibility for investor relations and tax.
In addition, he served for three years as senior vice president of
merchandising and store operations support. Croom joined Lowe's in
1997, following a successful 11-year career with Ernst & Young,
including two years in the firm's national tax
department.
Niblock added, "At the same time, we want to thank Bob for the
many contributions he has made to the organization, including 14
years as our CFO. He played an integral role in the growth
and success of Lowe's transformation to an omni-channel home
improvement company. We appreciate all that he has done for our
company and wish him the best with his next chapter."
Hull said, "My time at Lowe's has been extraordinary and I feel
privileged to have worked with people who are so passionate about
serving others. I look forward to working closely with Marshall to
successfully transition my responsibilities."
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a
FORTUNE® 50 home improvement company serving more than
17 million customers a week in the United
States, Canada and
Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe's and its related businesses
operate or service more than 2,355 home improvement and hardware
stores and employ over 285,000 employees. Founded in 1946 and based
in Mooresville, N.C., Lowe's
supports the communities it serves through programs that focus on
K-12 public education and community improvement projects. For more
information, visit Lowes.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lowes-appoints-marshall-a-croom-chief-financial-officer-robert-f-hull-jr-to-retire-300391785.html
SOURCE Lowe's Companies, Inc.