MOORESVILLE, N.C., Nov. 21, 2017 /PRNewswire/ -- Lowe's Companies,
Inc. (NYSE: LOW) announced today that Richard D. Maltsbarger, Lowe's chief development
officer and president, international, has been appointed chief
operating officer, effective Feb. 3,
2018, and will continue to report to Robert A. Niblock, chairman, president and CEO.
Maltsbarger succeeds Rick D. Damron
who plans to retire after 36 years with the company. Damron has
served as chief operating officer since 2012.
In his new role, Maltsbarger, 42, will be responsible for
delivering seamless omni-channel experiences to execute Lowe's
brand promise and build lasting customer loyalty. He will oversee
areas including store operations, supply chain, pro and services,
while also working closely with Michael P.
McDermott, chief customer officer, to further enhance our
omni-channel customer experience. A strong business leader,
Maltsbarger has led Lowe's international operations since 2015 and
has a deep background in developing and executing strategy based on
customer insights.
Niblock said, "Richard is a proven leader with a keen
understanding of our business and industry. He brings vast consumer
knowledge from various roles within Lowe's and has been
instrumental in the development and implementation of our strategy.
We are confident that in this new role, Richard will continue to
enhance our capabilities and processes as we execute our plans and
meet customers' rapidly evolving expectations."
Niblock added, "On behalf of the board and management team, I
want to thank Rick for his innumerable contributions to Lowe's over
his distinguished career during the past three decades. Rick has
worked across every aspect of our operations, and his ideas and
initiatives have positively impacted Lowe's employees and
customers. We wish him all the best in his retirement."
Damron stated, "I have a great deal of admiration and respect
for the Lowe's organization and management team and look forward to
working with Richard to ensure a smooth transition. Lowe's is well
positioned for continued success, and I have the utmost confidence
in our employees and the company's long-term growth
opportunities."
Maltsbarger Background
Maltsbarger was named chief
development officer in 2014 and president, international in 2015.
In his current role, Maltsbarger is responsible for corporate
strategy, business development and international operations.
Maltsbarger joined Lowe's in 2004 as director of customer analytics
and held various senior leadership roles including business
development executive, senior vice president of strategy, vice
president of strategic planning and vice president of research.
Maltsbarger earned his bachelor's and master's degrees in
agricultural economics from the University of
Missouri and an MBA from Washington
University in St.
Louis.
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 2016
sales of $65.0 billion, Lowe's and
its related businesses operate or service more than 2,370 home
improvement and hardware stores and employ over 290,000 people.
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.
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SOURCE Lowe's Companies, Inc.