Lowe's names former McDonald’s chief to board

Mooresville, N.C. Lowe’s Cos. said Friday it has appointed former McDonald’s Corp. president and CEO Raul Alvarez, 55, to Lowe’s board of directors.

Alvarez, who led McDonald’s from 2006 until his retirement in December 2009, will serve on the board’s governance and audit committees.

With Alvarez, Lowe’s board of directors increases to 12 members, 11 of which are independent directors.