Just days after Marvin Ellison took the top spot at Lowe’s, the company is overhauling its upper management structure with several current executives leaving the retailer.
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, company officials 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 omnichannel capabilities and deliver increased value for our customers, associates and shareholders,” said Ellison.
The changes include the addition of William Boltz as evp/merchandising. Currently the CEO of Chervon North America, Boltz will oversee merchandising, marketing, digital and data analytics and customer insights. He also has prior retail experience at The Home Depot and Sears Holdings and will officially join the company on August 15.
Michael McDermott, Lowe’s chief customer officer, will leave the company in early November to pursue other interests.
Lowe’s has initiated an external search for the newly created evp/stores position and evp/supply chain position. Mike West, current svp/supply chain operations, will serve in the supply chain role on a transitional basis while an external search is underway.
As previously announced, Marshall Croom plans to retire from the company effective October 5. While 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.