Lowe’s Companies Inc. is making some significant changes in its executive structure.
According to CNBC, the home improvement giant has eliminated the position of chief marketing officer, with former marketing head Marisa Thalberg leaving the company as a result. Lowe’s has shifted control of the marketing department to executive VP of merchandising Bill Boltz.
Thalberg, who reported to Lowe’s CEO Marvin Ellison, came to the company in February 2020. Thalberg had previously served as global chief brand officer of Taco Bell, stepping down in August 2019. She joined the fast-food giant in 2015 as chief brand engagement officer and, in 2016, became the company’s first-ever female chief marketing officer. In January 2018, she was promoted to global chief brand officer.
Prior to Taco Bell, Thalberg served as the head of corporate digital and integrated marketing worldwide for The Estée Lauder Companies and held various senior leadership roles at Unilever Cosmetics International, Sure Fit Inc., and Revlon. Thalberg also founded Executive Moms, an organization for working mothers.
“Marisa is a world-class marketer and leader, and we are thrilled to have her join the Lowe’s leadership team,” Ellison said at the time of Thalberg’s hire. “Marisa brings extensive experience in building culturally resonant brands and delivering business value through marketing innovation and fresh thinking to inspire and engage customers. We are confident Marisa will lead our brand into an exciting new chapter for our customers and associates.”
For the first two fiscal quarters of 2022, Lowe’s reported year-over-year declines in revenues and earnings, which it largely attributed to the impact of unusual weather.
As of July 29, 2022, Mooresville, N.C.-based Lowe's Companies Inc. operated 1,969 home improvement and hardware stores in the U.S. and Canada, representing 208 million square feet of retail selling space, and it serviced approximately 212 dealer-owned stores.