Lowe’s eliminates roles of COO, chief customer officer amid leadership revamp
Lowe's Companies is shaking things up with a new leadership structure that eliminates the positions of some high-ranking executives.
The announcement comes just seven days after Marvin R. Ellison, formerly head of J.C. Penney, officially began his duties as Lowe’s new president and CEO. Ellison replaced Robert Niblock, who announced his plans to step down as chief executive in late March after a 25-year career at the home improvement chain, including 13 years as chairman and CEO.
Richard Maltsbarger, COO, has left the company, effective immediately. Maltsbarger had been with the company since 2004, and became COO in February 2018.
Chief customer officer Michael McDermott, will leave Lowe’s effective Nov. 6, to pursue other interests, the company said. McDermott joined Lowe’s in 2014, and was promoted in 2016.
In addition to eliminating the COO and chief customer officer positions, Lowe’s will eliminate the positions of corporate administration executive and chief development officer. It is creating two new positions: executive VP, supply chain, and executive VP, stores.
The responsibilities that formerly fell under the positions being eliminated will be assumed by other senior leadership roles that will report directly to Ellison.
“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,” stated Ellison.
The roles involved in the new organizational structure include:
• Executive VP, Merchandising: This role will be responsible for merchandising, marketing, digital, and data analytics and customer insights. William P. (Bill) Boltz has been named to the role, effective Aug. 15, 2018. He is currently the president and CEO of global power tool supplier Chervon North America.
In addition, Boltz previously held several leadership roles in merchandising at The Home Depot, including senior VP of hardlines. Prior to that, he was with Sears for more than 20 years.
• Executive VP, Stores: The company has initiated an external search for this newly created role, which will oversee the North, South and West divisions, Orchard Supply Hardware, operations engineering, Pro and services businesses, and asset protection. The senior leaders of the store operations team will report to the CEO until an executive VP is named.
• Executive VP, Supply Chain: This newly created role will oversee distribution centers, logistics, global sourcing, transportation and delivery services. Mike West, current senior VP, supply chain operations, will serve in the role on a transitional basis while an external search is underway.
• Senior VP, Chief Information Officer: Paul D. Ramsay will remain in his current role as CIO.
• Executive VP, Chief Financial Officer: As previously announced, Marshall A. Croom plans to retire from the company, effective Oct. 5, 2018. An external search is underway.
• Executive VP, General Counsel & Corporate Secretary: Bill McCanless will remain in his current role as executive VP, general counsel and corporate secretary. Effective immediately, N. Brian Peace, senior VP, administration, will report to McCanless. Peace will take another role in the fall.
• Executive VP, Human Resources: Jennifer L. Weber will remain in her current role as executive VP, human resources.
• President & CEO, Canada: Sylvain Prud'homme will remain in his current role as president & CEO, Canada, where he will continue to oversee operations in Canada and Mexico.
The announcement comes just seven days after Marvin R. Ellison, formerly head of J.C. Penney, officially began his duties as Lowe’s new president and CEO. Ellison replaced Robert Niblock, who announced his plans to step down as chief executive in late March after a 25-year career at the home improvement chain, including 13 years as chairman and CEO.
Richard Maltsbarger, COO, has left the company, effective immediately. Maltsbarger had been with the company since 2004, and became COO in February 2018.
Chief customer officer Michael McDermott, will leave Lowe’s effective Nov. 6, to pursue other interests, the company said. McDermott joined Lowe’s in 2014, and was promoted in 2016.
In addition to eliminating the COO and chief customer officer positions, Lowe’s will eliminate the positions of corporate administration executive and chief development officer. It is creating two new positions: executive VP, supply chain, and executive VP, stores.
The responsibilities that formerly fell under the positions being eliminated will be assumed by other senior leadership roles that will report directly to Ellison.
“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,” stated Ellison.
The roles involved in the new organizational structure include:
• Executive VP, Merchandising: This role will be responsible for merchandising, marketing, digital, and data analytics and customer insights. William P. (Bill) Boltz has been named to the role, effective Aug. 15, 2018. He is currently the president and CEO of global power tool supplier Chervon North America.
In addition, Boltz previously held several leadership roles in merchandising at The Home Depot, including senior VP of hardlines. Prior to that, he was with Sears for more than 20 years.
• Executive VP, Stores: The company has initiated an external search for this newly created role, which will oversee the North, South and West divisions, Orchard Supply Hardware, operations engineering, Pro and services businesses, and asset protection. The senior leaders of the store operations team will report to the CEO until an executive VP is named.
• Executive VP, Supply Chain: This newly created role will oversee distribution centers, logistics, global sourcing, transportation and delivery services. Mike West, current senior VP, supply chain operations, will serve in the role on a transitional basis while an external search is underway.
• Senior VP, Chief Information Officer: Paul D. Ramsay will remain in his current role as CIO.
• Executive VP, Chief Financial Officer: As previously announced, Marshall A. Croom plans to retire from the company, effective Oct. 5, 2018. An external search is underway.
• Executive VP, General Counsel & Corporate Secretary: Bill McCanless will remain in his current role as executive VP, general counsel and corporate secretary. Effective immediately, N. Brian Peace, senior VP, administration, will report to McCanless. Peace will take another role in the fall.
• Executive VP, Human Resources: Jennifer L. Weber will remain in her current role as executive VP, human resources.
• President & CEO, Canada: Sylvain Prud'homme will remain in his current role as president & CEO, Canada, where he will continue to oversee operations in Canada and Mexico.