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Lowe's Companies Inc. (NYSE: LOW), Mooresville, NC, has initiated a new leadership structure designed to simplify roles and responsibilities and “drive operational excellence,” the company said. The changes come shortly after company President and CEO Marvin Ellison took the helm on July 2.
As part of the restructuring, Lowe’s has eliminated the chief operating officer, chief customer officer, corporate administration executive and chief development officer positions, and realigned those responsibilities under a new set of positions, as follows:
Executive Vice President (EVP), Merchandising: This role is responsible for merchandising, marketing, digital, and data analytics and customer insights. Lowe’s has hired William P. Boltz to fill the role. Boltz is currently president and CEO of Chevron North America. Lowe’s current Chief Customer Officer Michael P. McDermott will remain with the company until November 6 to ensure a smooth transition, Lowe’s said.
EVP, Stores: This role will oversee the North, South, and West divisions, Orchard Supply Hardware, operations engineering, professional and services businesses, and asset protection. Lowe’s has initiated an external search for the newly created position. Effective immediately, Chief Operating Officer Richard D. Maltsbarger will be leaving the company.
EVP, Supply Chain: This 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.
Senior Vice President (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 named, and then remain with the company during a transition period until his retirement date.
EVP, General Counsel and 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 role as EVP, human resources.
President and CEO, Canada: Sylvain Prud'homme will remain in his current role as president and CEO, Canada, where he will continue to oversee operations in Canada and Mexico.