Lowe's Announces Corporate Governance Initiative

Mooresville, N.C. Lowe's Cos. announced a new initiative to enhance its corporate governance practices.

The board of directors adopted a policy for recoupment of performance-based executive compensation in the event of a significant financial restatement, commonly referred to as a "clawback" provision. The new guideline applies to all Lowe's executive officers, as designated by the board.

The policy commits the board of directors to seek recoupment of unearned performance-based executive compensation if the board determines that an executive officer engaged in fraud or intentional misconduct that caused or substantially caused a significant restatement of the company's financial results.

The new guideline is available in its entirety at www.lowes.com.