![]() ![]() Lowe’s CEO Marvin Ellison has made steps to increase diversity and improve sales Lowe’s began as a family business and has become a multinational public company, giving the public opportunities to own a piece of the legendary brand. Marvin Ellison was an executive at The Home Depot and CEO of the J.C. “I am thrilled to take on the role as Lowe’s next president and CEO,” Ellison said following his appointment. “Working closely with Lowe’s board, management team and the more than 310,000 talented employees, I believe we will not just compete, but win in today’s complex retail environment.” Marvin Ellison, chairman and chief executive officer of Lowe’s | Photo By Lauren Justice/Bloomberg Penney Company before joining Lowe’s in 2018. “Attracting Marvin is a great win for the entire Lowe’s team,” Marshal O. Larsen, the board’s lead director, said.Įllison wasted no time in restructuring the company’s executive leadership to improve efficiency and diversity. ![]() ![]() In 2020, Marvin told the National Retail Federation that he’d experienced racial discrimination most of his life, even after becoming a top executive.Īfter joining Lowe’s, he found that most of his executives were white and quietly set out to change that statistic. “Sometimes, you have to decide to talk less and do more. I’m very, very appreciative that there’s all this dialogue happening out there, but I didn’t have to see the horrific murder of George Floyd to understand there was racial injustice in America. I live it every day.”īy December 2021, 55% of the company’s executive leaders and 60% of its board were female or ethnically diverse. The company had also invested $55 million in minority-owned businesses.Īs CEO, Ellison also sought to improve sales by improving the company’s online platform, which was woefully out-of-date when he arrived. “If we’ve learned nothing from the pandemic, we’ve learned that customers require options and choices on how they choose to shop and any retailer that doesn’t provide those options and choices in a way that takes friction points out the customer is going to lose.” Lowe’s is improving but is expected to stay behind Home Depot in the coming years The improvement helped Lowe’s capitalize on the increased demand for online shopping during the pandemic. Lowe’s reluctance to adapt its business to ‘big-box’ warehouses in the late 1980s allowed The Home Depot to breeze past it as America’s premier hardware chain. ![]()
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