MOORESVILLE, N.C., July 9, 2018 /PRNewswire/ -- Lowe's
Companies, Inc. (NYSE: LOW) today announced a new leadership
structure with simplified roles and responsibilities to drive
operational excellence.
Marvin R. Ellison, president and
CEO of Lowe's, said, "We have taken a fresh look at our
organizational structure and are realigning our leadership team to
improve our focus, better leverage Lowe's omni-channel capabilities
and deliver increased value for our customers, associates and
shareholders. As we make this transition, I would like to recognize
the numerous contributions of the senior leaders departing Lowe's
and thank them for their years of service."
As part of the company's new leadership structure, the chief
operating officer, chief customer officer, corporate administration
executive and chief development officer positions have been
eliminated, and responsibilities formerly under these roles will be
assumed by other senior leadership roles that will report directly
to Ellison. These changes are effective immediately but will
require a transition period until all roles are permanently
filled.
- EVP, Merchandising: This role will be responsible for
merchandising, marketing, digital, and data analytics and customer
insights. William P. (Bill) Boltz
has been named to the role, effective Aug.
15, 2018. Boltz is an accomplished executive with more than
three decades of retail operations, marketing and merchandising
experience and is currently the president and CEO of Chervon North America. In this role, Boltz
oversees the sales, marketing, engineering and product development
in North America of products under
the EGO, SKIL and SKILSAW brands. Chervon, as a global power tool
supplier, currently produces products as an original equipment
manufacturer for a number of key professional power tool brands and
also produces and develops products under the Kobalt and Craftsman
brands as well as other private label brands. In addition,
Boltz previously held several leadership roles in merchandising at
The Home Depot, including senior vice president of hardlines, which
consisted of hardware, tools, nursery, cleaning, seasonal, outdoor
power and holiday decor. Prior to The Home Depot, Boltz worked at
Sears Holdings Corporation for more than 20 years, culminating in
his role as vice president, general merchandise manager within home
improvement.
Effective Nov. 6, 2018, after
ensuring a smooth transition, Chief Customer Officer Michael P. McDermott has decided to leave the
company to pursue other interests.
- EVP, Stores: The company has initiated an external
search for this newly created role, which will oversee the North,
South and West divisions, Orchard Supply Hardware, operations
engineering, Pro and services businesses, and asset protection. The
senior leaders of the store operations team will report to the CEO
until an EVP is named.
Effective immediately, Chief Operating Officer Richard D. Maltsbarger will be leaving the
company.
- EVP, Supply Chain: This newly created role will oversee
distribution centers, logistics, global sourcing, transportation
and delivery services. Mike West,
current senior vice president, supply chain operations, will serve
in the role on a transitional basis while an external search is
underway.
- SVP, Chief Information Officer: Paul D. Ramsay will remain in his current role
as CIO.
- EVP, Chief Financial Officer: As previously announced,
Marshall A. Croom plans to retire
from the company, effective Oct. 5,
2018. An external search is underway. Croom will continue in
his role as chief financial officer until his successor is
appointed, and then remain with the company during a transition
period until his retirement date.
- EVP, General Counsel & Corporate Secretary:
Bill McCanless will remain in his
current role as EVP, general counsel and corporate secretary.
Effective immediately, N. Brian
Peace, SVP, administration, will report to McCanless. Peace
will take another role in the fall.
- EVP, Human Resources: Jennifer
L. Weber will remain in her current role as EVP, human
resources.
- President & CEO, Canada: Sylvain
Prud'homme will remain in his current role as president
& CEO, Canada, where he will
continue to oversee operations in Canada and Mexico.
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a
FORTUNE® 50 home improvement company serving more than 18 million
customers a week in the United
States, Canada and
Mexico. With fiscal year 2017
sales of $68.6 billion, Lowe's and
its related businesses operate or service more than 2,390 home
improvement and hardware stores and employ over 310,000 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.