MOORESVILLE, N.C., May 29, 2020 /PRNewswire/ -- At its 2020
Annual Meeting of Shareholders (the "2020 Annual Meeting"), Lowe's
Companies, Inc. (NYSE: LOW) President and CEO Marvin R. Ellison outlined the changes that the
company made to its operations during the COVID-19 pandemic. These
included enhancing safety measures to provide a safe store
environment for its associates and customers, as well as providing
support for the community, health care providers and small
businesses, and financially supporting its associates.
"I am incredibly proud of our company and our long-standing
history of serving our communities in moments of crisis, whether
it's a hurricane, flood, tornado, or now, a pandemic. We thank our
associates for their hard work and dedication to serving our
customers and communities," Ellison said. "As we look ahead, we
will continue to drive sustainable shareholder value, as we
position the business for long-term growth by executing against our
Retail Fundamentals Strategy."
At the meeting, shareholders elected board members Raul Alvarez, David H.
Batchelder, Angela F. Braly,
Sandra B. Cochran, Laurie Z. Douglas, Richard W. Dreiling, Marvin R. Ellison, Brian
C. Rogers, Bertram L. Scott,
Lisa W. Wardell and Eric C. Wiseman to serve until the 2021 Annual
Meeting of Shareholders. Richard
Dreiling, chairman of the board, recognized outgoing board
member James H. Morgan upon his
retirement from the board after five years of service.
Shareholders approved, on an advisory basis, the compensation of
the company's named executive officers in fiscal 2019, and ratified
Deloitte & Touche LLP as the company's independent registered
public accounting firm for fiscal 2020. Shareholders also approved
the company's 2020 employee stock purchase plan and an amendment to
the company's bylaws, decreasing from 25% to 15% the percentage of
shares required to call a special shareholder meeting. A
shareholder proposal regarding special meetings did not pass.
Final voting results will be filed with the Securities and
Exchange Commission within four business days.
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a
FORTUNE® 50 home improvement company serving approximately 18
million customers a week in the United
States and Canada. With
fiscal year 2019 sales of $72.1
billion, Lowe's and its related businesses operate or
service more than 2,200 home improvement and hardware stores and
employ approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the
communities it serves through programs focused on creating safe,
affordable housing and helping to develop the next generation of
skilled trade experts. For more information, visit Lowes.com.
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SOURCE Lowe's Companies, Inc.