MOORESVILLE, N.C. — Lowe’s Cos. has just announced that Marvin R. Ellison has been named president and CEO, effective July 2. He will also join Lowe’s board of directors at that time. Ellison succeeds Robert A. Niblock, who previously announced his intention to retire. The Lowe’s board has also appointed Richard W. Dreiling, a director of Lowe’s since 2012, as chairman, also effective July 2.
Ellison is coming over from J.C. Penney Co., where he currently serves as chairman and CEO. He also has an extensive track record in the home improvement industry, having spent 12 years in senior-level operations roles with The Home Depot, where he served as executive vice president of U.S. stores. Before that, he spent 15 years at Target.