Lowe's is on the hunt for a new CFO
Lowe's CFO is retiring.
Marshall Croom, a 21-year veteran of the company, will retire, effective Oct. 5. He will remain in his position while a replacement is found and continue during a transition period until the retirement date. A CFO search is currently underway.
“On behalf of the entire Board and management team, I thank Marshall for his dedication and valuable contributions during his more than two-decade career at Lowe’s,” said Robert Niblock, Lowe’s outgoing chairman and CEO. “Lowe’s has a strong finance team, and Marshall has played a significant role in helping drive financial and operational improvements as we work to enhance our position as the omnichannel project authority. I am deeply appreciative that Marshall will remain with Lowe’s to help facilitate a smooth leadership transition and wish him all the best in his retirement.”
“It has been a privilege to work alongside the talented and dedicated Lowe’s team,” said Croom. “I am proud of the progress we have made and the team we have built, and I am committed to ensuring a smooth transition.”
The news comes on the heels of naming Marvin Ellison as the company’s new CEO, effective July 2. Ellison will step down from his position as CEO of J.C. Penney on June 1.
Mooresville, N.C.-based Lowe’s operates 2,390 stores in the United States, Canada, and Mexico.
Marshall Croom, a 21-year veteran of the company, will retire, effective Oct. 5. He will remain in his position while a replacement is found and continue during a transition period until the retirement date. A CFO search is currently underway.
“On behalf of the entire Board and management team, I thank Marshall for his dedication and valuable contributions during his more than two-decade career at Lowe’s,” said Robert Niblock, Lowe’s outgoing chairman and CEO. “Lowe’s has a strong finance team, and Marshall has played a significant role in helping drive financial and operational improvements as we work to enhance our position as the omnichannel project authority. I am deeply appreciative that Marshall will remain with Lowe’s to help facilitate a smooth leadership transition and wish him all the best in his retirement.”
“It has been a privilege to work alongside the talented and dedicated Lowe’s team,” said Croom. “I am proud of the progress we have made and the team we have built, and I am committed to ensuring a smooth transition.”
The news comes on the heels of naming Marvin Ellison as the company’s new CEO, effective July 2. Ellison will step down from his position as CEO of J.C. Penney on June 1.
Mooresville, N.C.-based Lowe’s operates 2,390 stores in the United States, Canada, and Mexico.