Marvin Ellison: On Retail, Progress at Lowe’s
TUCSON, ARIZ. — Less than a year has passed since Marvin Ellison took on the top spot to lead Lowe’s as its president and chief executive officer. That hasn’t stopped him from enacting big changes across the organization. In nine months, Ellison has visited all 15 regions in which the company operates during his first six weeks on the job; divested some of the business’ assets; changed up the management team in the first four months to include a new chief financial officer and executives to head up merchandising, stores, supply chain, e-commerce and a chief information officer, and established a field merchandising team to localize the product assortment. “In just less than a year, we’re starting to see progress,” Ellison said during at talk at the University of Arizona’s Terry J. Lundgren Center for Retailing’s annual Global Retailing Conference in Tucson. Ellison stepped into the position after parting ways with J.C.Penney Co. Inc., entering a company he said had gone through a period of seven years where Lowe’s had fallen behind its top competition. It had also lost its share of the professional customer — a shopper that, in some cases, will frequent one of its stores upwards of 200 times annually
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