By Josh Beckerman

Lowe's Cos. (LOW) is eliminating certain roles, including the chief operating officer position, as part of a new leadership structure.

Chief Operating Officer Richard D. Maltsbarger is leaving the company, effective immediately, while Chief Customer Officer Michael P. McDermott will leave in November.

Lowe's is also eliminating the corporate administration executive and chief development officer positions.

The company said William P. Boltz is joining from Chevron Corp. (CVX) as executive vice president, merchandising.

Lowe's is searching externally for an executive vice president, stores.

The Wall Street Journal reported in May that William Ackman's Pershing Square Capital Management LP bought a roughly $1 billion Lowe's stake.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

July 09, 2018 17:16 ET (21:16 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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