Lowe’s has hired Marvin Ellison to take over as president and CEO, starting July 2.
Ellison comes to the position with 30 years of experience in the industry, having previously served as executive vice president of U.S. stores at The Home Depot, Lowe’s largest competitor, where he worked for 12 years. He is currently chairman and CEO of J.C. Penney Company Inc., where he has worked since 2014.
“Attracting Marvin is a great win for the entire Lowe’s team,” Marshall Larsen, lead director of the Lowe’s board, said in a statement. “Marvin is an experienced retail CEO with extensive expertise in a complex omnichannel consumer-facing company. We look forward to shepherding an exciting new chapter for Lowe’s under Marvin’s leadership.”
The company also announced the appointment of Richard Dreiling as company chairman, who will begin July 2.
The company’s prior CEO and chairman, Robert Niblock, announced his retirement in March.
